ALD
ALD: Description of the share buyback programme
28-May-2020 / 21:01 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Press release
Paris, 28 May 2020
DESCRIPTION OF THE SHARE BUYBACK PROGRAMME
Authorised by the combined General Meeting dated 20 May 2020
This description is drawn up in accordance with the provisions of Articles
241-1 and 241-2 I of the General Regulation of the French Financial Markets
Authority (Autorité des marchés financiers).
1) Date of the General Meeting called to authorise the share buyback
programme
The authorisation for the Company to buy its own shares was approved at the
combined General Meeting dated 20 May 2020.
2) Breakdown by objectives of the securities held
As at 20 May 2020, the allocation of the shares held directly is as follows:
Cancellation 0
Allocation to employees and executive officers 854,337
Exercise of rights attached to securities 0
Liquidity agreement 155,175
External growth 0
Implement market practices 0
3) Purposes of the share buyback programme
ALD has received authorisations to purchase its own shares, to:
a. cancel them, pursuant to the 23rd resolution of this General
Shareholders' Meeting,
b. allocate, cover and honour any free shares or employee savings plans and
any type of allocation for the benefit of employees or corporate officers of
the Company or affiliated companies under the terms and conditions
stipulated or permitted by French or foreign law, particularly in the
context of participation in the results of the expansion of the Company, the
granting of free shares, any employee shareholding plans as well as
completing any related transactions to cover the aforementioned employee
shareholding plans,
c. provide shares upon the exercise of rights attached to securities giving
access to the share capital of the Company,
d. market making activities under a liquidity contract, signed with an
investment services provider, in compliance with the market practices
permitted by the AMF ("l'Autorité des Marchés Financiers"),
e. retain and later tender as part of the Group's external growth
transactions,
f. implement any market practice that may become recognised by law or by the
AMF.
4) Maximum amount allocated to the share buyback programme, maximum number
and characteristics of the securities, maximum purchase price
The resolution approved at the General Meeting provides that ALD can
purchase its ordinary shares for an amount of up to 5% of the share capital
at the date of making these purchases, it being specified that the maximum
number of shares held after these purchases may not at any time exceed 10%
of share capital.
As at 18 May 2020, without taking into account the shares already held, a
theoretical maximum number of 40,410,364 shares could be purchased. Given
the number of securities already held at this date and the possibility to
hold an amount of shares representing up to 10% of the share capital, the
Company could purchase up to 40,309,413 shares.
The maximum purchase price was set at EUR 28.6 per share. The authorisation
limits the amount of funds allocated to the programme to EUR 600 million.
The Board of Directors will ensure that the implementation of the buybacks
is conducted in compliance with the prudential requirements as set by the
regulations.
5) Duration of share buyback programme
The combined General Meeting dated 20 May 2020 set the duration of the
authorisation for the Company to buy and sell its own shares at 18 months
from the date of the General Meeting.
Press contact:
Stephanie Jonville
ALD Communication Department
Tel.: +33 (0)6 46 14 81 90
stephanie.jonville@aldautomotive.com
ALD
ALD is a global leader in mobility solutions providing full service leasing
and fleet management services across 43 countries to a client base of large
corporates, SMEs, professionals and private individuals. A leader in its
industry, ALD places sustainable mobility at the heart of its strategy,
delivering innovative mobility solutions and technology-enabled services to
its clients, helping them focus on their everyday business.
With 6,700 employees around the globe, ALD manages 1.78 million vehicles (at
end-March 2020).
ALD is listed on Compartment A of Euronext Paris (ISIN: FR0013258662;
Ticker: ALD) and is included in the SBF120 index. Société Générale is ALD's
majority shareholder.
For more information, you can follow us on Twitter @ALDAutomotive [1] or
visit www.aldautomotive.com [2].
Regulatory filing PDF file
Document title: ALD Share buyback
Document: https://eqs-cockpit.com/c/fncls.ssp?u=MFCBLTBYKD [3]
Language: English
Company: ALD
1 Rue Eugène et Armand Peugeot
92500 Rueil-Malmaison
France
Internet: https://www.aldautomotive.com/
ISIN: FR0013258662
Euronext Ticker: ALD
AMF Category: Share buyback / Disposal of own shares / Description of the
buyback programme
EQS News ID: 1058341
End of Announcement EQS News Service
1058341 28-May-2020 CET/CEST
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2: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=8512290631f9f8899d5ca349809e3a89&application_id=1058341&site_id=vwd&application_name=news
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(END) Dow Jones Newswires
May 28, 2020 15:01 ET (19:01 GMT)
