Having obtained the necessary regulatory authorisation, Amundi announces the launch of a share buyback programme, via a mandate agreed with an Investment Services Provider (Kepler Cheuvreux)
In accordance with the authorisation granted by the Ordinary General Meeting of 15 May 2018 and delegated by the Board of Directors to the Chief Executive Officer, the share buyback programme will have the following features:
- Purpose
Shares will be acquired for the purpose of covering the performance share allocation plans that have been set up for the Group’s key managers.
In order to avoid dilution for existing shareholders, Amundi has decided not to issue any new shares, but to buy back the shares that will be delivered in 2019, 2020 and 2021 (following a vesting period and subject to performance and presence conditions1).
- Maximum number of shares
The number of shares bought back is not expected to exceed two million1, representing 1% of the share capital (which is equivalent to approximately €100 million, based on the current share price).
- Maximum price and amount
The maximum price at which these shares can be bought back will be €100 per share.
The total amount allocated to this programme may not exceed €200 million.
- Features of the purchased shares
The Amundi shares in question are those admitted for trading on the Euronext regulated market in Paris under ISIN code FR0004125920.
- Duration of the share buyback programme
This programme will run from 21 November 2018 until 15 November 2019.
As a reminder, Amundi already holds 199,600 shares as of 31 October 2018 under a liquidity contract agreed with Kepler Cheuvreux.
- The number of attributed shares will be definitive only at the time of their delivery.
