DJ Kaufman & Broad SA: REPURCHASE OF 5.93 % OF THE COMPANY'S SHARE CAPITAL FROM ARTIMUS PARTICIPATIONS
Kaufman & Broad SA Kaufman & Broad SA: REPURCHASE OF 5.93 % OF THE COMPANY'S SHARE CAPITAL FROM ARTIMUS PARTICIPATIONS 06-Sep-2023 / 00:08 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, September 6th, 2023 Repurchase of 5.93 % of the Company's share capital from Artimus Participations Kaufman & Broad (the "Company") announces that it has concluded on 5 September 2023, under its share buy-back program, a share purchase agreement on a block of 1,251,000 shares of the Company from Artimus Participations at a price of 25.92 euros per share, i.e. at a discount of 2.0 % to today's closing price, representing a total investment of 32.4 million euros. Artimus Participations, a company owned by current and former managers of the Company, including Mr. Nordine Hachemi, the Company's Chairman and Chief Executive Officer, held prior to this transaction 11.01 % of the Company's share capital and 16.50 % of its voting rights. Following the transaction and cancellation of the repurchased shares, Artimus Participations' stake in the Company will be reduced to 5.40 % of the Company's share capital and to 8.36 % of its voting rights. The proceeds from the sale will be used to repay Artimus Participations' debt. This transaction will result in all Company's shareholders benefiting from an accretive effect, without affecting the Company's investment capacity and while stabilizing the Company's shareholding. This share buy-back was carried out using a limited amount of the Company's available cash. Settlement and delivery of the transaction should occur on the next few days. The board of directors unanimously approved this transaction. Interested directors did not participate in the vote, in compliance with applicable regulations. Prior to the board meeting, cabinet Ledouble, appointed as independent expert, issued an opinion concluding that: .from a financial point of view, the price of the repurchased shares is fair for the Company and its shareholders, regarding the value of the share based on a multi-criteria evaluation; . the transaction does not affect the financial balances and the investment capacity of the Company; . the transaction, carried out in the interest of the Company, will be accretive for its shareholders and will be subject to the related-party transactions approval process. Following the transaction and cancellation of the repurchased shares, the group's employees remain key shareholders in the Company, directly or indirectly, with 12.2% of the Company's share capital and 14.6% of its voting rights[1]. The Company's management also indicated its intention to remain a significant shareholder in the Company. The transaction was realized pursuant to the delegations of authority granted by the 11th and 12th resolutions of the annual general meeting of shareholders held on 4 May 2023. This press release is available at www.kaufmanbroad.fr Contacts Chief Financial Officer Bruno Coche -01 41 43 44 73/infos-invest@ketb.com Press relations PRIMATICE: Thomas de Climens -06 78 12 97 95/thomasdeclimens@primatice.fr Kaufman & Broad: Emmeline CACITTI -06 72 42 66 24/ecacitti@ketb.com About KAUFMAN & BROAD For more than 50 years, KAUFMAN & BROAD has been designing, developing, building and selling apartments, single-family homes in communities, managed housing, retail areas, business spaces and offices buildings. As a designer and a true urban builder alongside regional authorities to develop new neighbourhoods and major urban projects, KAUFMAN & BROAD is one of the first French Developers-Builders by the combination of its size, profitability and the strength of its brand. Let us create a more virtuous city together. For more information: www.kaufmanbroad.fr Kaufman & Broad's Universal Registration Document was filed on March 31, 2023 with the Autorité des marchés financiers (the "AMF") under number D.23-0210. It is available on the websites of the AMF (www.amf-france.org) and Kaufman & Broad (www.kaufmanbroad.fr). It contains a detailed description of Kaufman & Broad's business, results and outlook as well as the associated risk factors. In particular, Kaufman & Broad draws attention to the risk factors described in Chapter 4 of the Universal Registration Document. The occurrence of one or more of these risks may have a material adverse effect on the business, assets, financial condition, results or prospects of the Kaufman & Broad Group, as well as on the market price of Kaufman & Broad shares. This press release does not constitute, and shall not be deemed to constitute, an offer to the public, an offer to sell or an offer to subscribe or a solicitation of an order to buy or subscribe in any jurisdiction.
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[1] Including the participation held by Artimus Participations and through the Kaufman & Broad shareholders' mutual funds and KB shares mutual funds, as well as registered shares held by employees, especially from free share plans.
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Regulatory filing PDF file File: KBSA_PR Share Buyback Opération 06 09 2023 VFinale
1719565 06-Sep-2023 CET/CEST
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(END) Dow Jones Newswires
September 05, 2023 18:08 ET (22:08 GMT)
