DJ ALD: Description of the share buyback programme
ALD ALD: Description of the share buyback programme 21-May-2021 / 18:30 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, 21 May 2021 DESCRIPTION OF THE SHARE BUYBACK PROGRAMME
Authorised by the combined General Meeting dated 19 May 2021
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 19 May 2021. 2. Breakdown by objectives of the securities held
As at 19 May 2021, 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 831,060
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 19th 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 19 May 2021, 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 20,157,428 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 19 May 2021 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 6,500 employees around the globe, ALD manages 1.76 million vehicles (at end-March 2021).
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 or visit www.aldautomotive.com. ----------------------------------------------------------------------------------------------------------------------- Regulatory filing PDF file File: pdf
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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: 1199446
End of Announcement EQS News Service
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1199446 21-May-2021 CET/CEST
Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1199446&application_name=news
(END) Dow Jones Newswires
May 21, 2021 12:31 ET (16:31 GMT)
