Michelin : Implementation of a partial share buyback management agreement
14 Febbraio 2018 - 5:45PM
PRESS
RELEASE
Clermont-Ferrand, February 14,
2018
COMPAGNIE GENERALE
DES ETABLISSEMENTS MICHELIN
Implementation of
a partial share buyback management agreement
Compagnie Générale des
Etablissements Michelin has called on the assistance of an
Investment Services Provider for the implementation of its Share
Buyback Program as authorized by the Annual Shareholders Meeting of
May 19, 2017.
Under the terms of the Agreement
signed on February 14, 2018, the parties agree that the Investment
Services Provider will sell a certain number of Compagnie Générale
des Etablissements Michelin shares, representing a maximum of
€75,000,000, to Compagnie Générale des Etablissements Michelin,
which undertakes to buy them, between February 15, 2018 and
November 22, 2018, at an average price to be determined objectively
and independently by the market over the duration of the Agreement,
less a guaranteed discount. The price may not exceed the maximum
purchase price approved by the Annual Shareholders Meeting of May
19, 2017 or, if the shareholders adopt a new share buyback
resolution at the 2018 Annual Shareholders Meeting, the maximum
purchase price specified in said resolution.
All of the shares bought back under the Agreement
will be cancelled.
Investor Relations
Valérie Magloire
+33 (0) 1 78 76 45 37
+33 (0) 6 76 21 88 12 (cell)
valerie.magloire@michelin.com
Edouard de Peufeilhoux
+33 (0) 4 73 32 74 47
+33 (0) 6 89 71 93 73 (cell)
edouard.de-peufeilhoux@michelin.com
Matthieu Dewavrin
+33 (0) 4 73 32 18 02
+33 (0) 6 71 14 17 05 (cell)
matthieu.dewavrin@michelin.com
Humbert de Feydeau
+33 (0) 4 73 32 68 39
+33 (0) 6 82 22 39 78 (cell)
humbert.de-feydeau@fr.michelin.com
|
Media Relations
Corinne Meutey
+33 (0) 1 78 76 45 27
+33 (0) 6 08 00 13 85 (cell)
corinne.meutey@michelin.com
Individual Shareholders
Jacques Engasser
+33 (0) 4 73 98 59 08
jacques.engasser@michelin.com
|
DISCLAIMER
This press release is not an offer to purchase or a
solicitation to recommend the purchase of Michelin shares. To
obtain more detailed information on Michelin, please consult the
documents filed in France with Autorité des Marchés Financiers,
which are also available from the www.michelin.com/eng website.
This press release may contain a number of forward-looking
statements. Although the Company believes that these statements are
based on reasonable assumptions as at the time of publishing this
document, they are by nature subject to risks and contingencies
liable to translate into a difference between actual data and the
forecasts made or inferred by these statements.
20180214_Michelin_CP_Share
buyback_EN
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Michelin via Globenewswire
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