Kering - Launch of share repurchase program
25 Agosto 2021 - 08:44AM
Kering - Launch of share repurchase program
LAUNCH OF SHARE
REPURCHASE PROGRAM
Kering announces its intention to repurchase up
to 2.0% of its share capital over a 24-month period, pursuant to
the share repurchase authorization granted by the General
Shareholders’ Meeting held on July 6, 2021, provided that this
authorization could evolve at the next General Shareholders’
Meeting due to be held in 2022.
Kering reserves the right to interrupt this
program at any time, according to market conditions or to the
implementation of its investment strategy.
The shares acquired under this program are to be
cancelled, except for those which could be allocated to free share
grant programs to some employees.
In this context, Kering has signed a share
buyback agreement with an investment service provider.
Under this agreement, a first tranche covering a
maximum volume of 650,000 shares, corresponding to approximately
0.5% of Kering’s outstanding share capital, may be repurchased. The
total consideration of the repurchase program covered by this
tranche shall not exceed €650,000,000 (six hundred and fifty
million euros) with a price per share that shall not exceed €1,000
(one thousand euros), i.e. the maximum price set by the
Shareholders’ General Meeting held on July 6, 2021 in its single
resolution. The purchase period provided in the agreement starts on
August 25, 2021 and has a maximum duration of 3 (three) months.
The shares acquired under this first tranche are
to be cancelled, except for those intended to cover free share
grant programs to some employees, the number of which will be
determined at the end of the purchase period.
About Kering
A global Luxury group, Kering manages the
development of a series of renowned Houses in Fashion, Leather
Goods, Jewelry and Watches: Gucci, Saint Laurent, Bottega Veneta,
Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo,
Qeelin, Ulysse Nardin, Girard-Perregaux, as well as Kering Eyewear.
By placing creativity at the heart of its strategy, Kering enables
its Houses to set new limits in terms of their creative expression
while crafting tomorrow’s Luxury in a sustainable and responsible
way. We capture these beliefs in our signature: “Empowering
Imagination”. In 2020, Kering had over 38,000 employees and revenue
of €13.1 billion.
Contacts |
Kering –
Press |
Emilie
Gargatte +33
(0)1 45 64 61
20 emilie.gargatte@kering.com |
Marie de
Montreynaud +33
(0)1 45 64 62
53 marie.demontreynaud@kering.com |
|
Kering -
Analysts/Investors |
Claire
Roblet +33
(0)1 45 64 61
49 claire.roblet@kering.com |
Julien
Brosillon +33
(0)1 45 64 62
30 julien.brosillon@kering.com |
- Kering Press release - Share buy back - August 25 2021
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