Kering: Stock repurchase program launch of the third tranche
17 Mai 2022 - 05:45PM
Kering: Stock repurchase program launch of the third tranche
STOCK REPURCHASE
PROGRAMLAUNCH OF THE
THIRD
TRANCHE
Pursuant to the Stock Repurchase Program
announced on August 25, 2021, covering up to 2.0% of its share
capital over a 24-month period, Kering has signed a new share
buyback agreement with an investment service provider.
As a reminder, the first tranche of this share
repurchase program was completed on November 3, 2021. Between
August 25 and November 3, 2021, 650,000 shares were repurchased at
an average price of €643.70 per share, representing c. 0.5% of the
share capital. 325,000 shares were canceled on December 10, 2021,
pursuant to a decision by the Board of Directors at its meeting on
December 9, 2021.
The second tranche of this share repurchase
program was then completed on April 6, 2022. Between February 23
and April 6, 2022, 650,000 shares were repurchased at an average
price of €578.71 per share, representing c. 0.5% of the share
capital. The Board of Directors decided on April 28, 2022 to cancel
325,000 shares by the end of 2022.The new agreement is related to
the third tranche of the program. This new tranche will cover a
maximum volume of 650,000 shares, i.e. approximately 0.5% of
Kering’s outstanding share capital as of April 28, 2022. It is
noted that the maximum purchase price set by the Combined Annual
General Meeting of April 28, 2022, in its fifteenth resolution is
€1,000 (one thousand euros) per share. The purchase period provided
in the agreement will start on May 18, 2022 and will last until
July 19, 2022 at the latest.
The shares acquired under this third tranche are
to be partly cancelled. The remaining fraction of the repurchased
shares is intended to cover free share grant programs to some
employees. The respective volumes will be determined at the end of
the buyback period.
About Kering
A global Luxury group, Kering manages the
development of a series of renowned Houses in Fashion, Leather
Goods and Jewelry : Gucci, Saint Laurent, Bottega Veneta,
Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo,
Qeelin, as well as Kering Eyewear. By placing creativity at the
heart of its strategy, Kering enables its Houses to set new limits
in terms of their creative expression while crafting tomorrow’s
Luxury in a sustainable and responsible way. We capture these
beliefs in our signature: “Empowering Imagination”. In 2021, Kering
had over 42,000 employees and revenue of €17.6 billion.
Contacts |
Kering -
Press |
Emilie
Gargatte +33
(0)1 45 64 61
20 emilie.gargatte@kering.com |
Marie de
Montreynaud +33
(0)1 45 64 62
53 marie.demontreynaud@kering.com |
|
Kering -
Analysts/Investors |
Claire
Roblet +33
(0)1 45 64 61
49 claire.roblet@kering.com |
Laura
Levy
+33 (0)1 45 64 60
45 laura.levy@kering.com |
|
- Kering Press Release - Share buyback - May 17 2022
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