Euronext announces launch of a share repurchase programme of €200 million
27 Juli 2023 - 5:45PM
Euronext announces launch of a share repurchase programme of €200
million
Contacts
Media |
Contact Investor Relations |
Amsterdam |
+31 20 721
4133 |
Brussels |
+31 20 721
4133 |
+33 1 70 48 24
17 |
Dublin |
+33 1 70 48 24
45 |
Lisbon |
+351 91 777 68
97 |
|
Milan |
+39 02 72 42 62
12 |
Oslo |
+47 41 69 59
10 |
|
Paris |
+33 1 70 48 24
45 |
|
|
|
Euronext announces launch of a
share repurchase
programme of
€200 million
Amsterdam, Brussels, Dublin, Lisbon,
Milan, Oslo and Paris – 27
July 2023 – Euronext,
the leading pan-European market infrastructure, today announced a
share repurchase programme (the ‘Programme’) for a maximum amount
of €200 million.
This Programme is enabled by Euronext’s strong
cash generation capabilities and demonstrates Euronext’s rigorous
capital allocation strategy1. The Programme will not impact the
deleveraging path of Euronext, nor its rating. The Programme will
also be compatible with preserving the Group financial flexibility
to capture market opportunities and its existing dividend policy of
a pay-out of 50% of reported net income.
The Programme will be implemented as
follows:
-
Purpose: the purpose of the Programme is to reduce the share
capital of Euronext. All shares repurchased as part of the
Programme will be cancelled;
-
Maximum amount allocated: €200 million;
-
Duration: the targeted period for the share repurchase programme is
from 31 July 2023 for a maximum duration of a year, to be
implemented on Euronext Paris;
-
Framework: Euronext aims to repurchase approximately 3.0% of its
ordinary shares, as authorised by the General Meeting on 17 May
2023 to a limit of 10.0%.
Euronext has entered into a non-discretionary
arrangement with a financial intermediary to conduct the
repurchase.
The Programme will be executed in compliance
with applicable rules and regulations, including the Market Abuse
Regulation 596/2014 and the Commission Delegated Regulation (EU)
2016/1052, and based on the authority granted by the annual general
meeting of shareholders on 17 May 2023. Euronext will provide
regular updates on the progress of the programme, in line with
applicable regulations, at:
euronext.com/en/investor-relations/capital-and-shareholding/share-buyback-program
CONTACT ANALYSTS & INVESTORS
– ir@euronext.com |
Aurélie
Cohen |
+33 1 70 48 24
17 |
ir@euronext.com |
Clément
Kubiak |
+33 1 70 48 26
33 |
ir@euronext.com |
CONTACTS MEDIA –
mediateam@euronext.com |
Aurélie Cohen
(Europe) |
+33 1 70 48 24
45 |
parispressoffice@euronext.com |
Marianne Aalders
(Amsterdam) |
+31 20 721 41
33 |
amsterdampressoffice@euronext.com |
Marianne Aalders
(Brussels) |
+31 20 721 41
33 |
brusselspressoffice@euronext.com |
Sandra Machado
(Lisbon) |
+351 91 777 68
97 |
portugalpressoffice@euronext.com |
Andrea Monzani
(Europe/Milan/Rome) |
+39 02 72 42 62
13 |
italypressoffice@euronext.com |
Cathrine Lorvik
Segerlund (Oslo) |
+47 41 69 59
10 |
clsegerlund@euronext.com |
Sarah Mound
(Paris/Dublin) |
+33 1 70 48 24
45 |
parispressoffice@euronext.com |
About Euronext Euronext is the
leading pan-European market infrastructure, connecting European
economies to global capital markets, to accelerate innovation and
sustainable growth. It operates regulated exchanges in Belgium,
France, Ireland, Italy, the Netherlands, Norway and Portugal. With
more than 1,900 listed issuers and around €6.5 trillion in market
capitalisation as of end June 2023, it has an unmatched blue-chip
franchise and a strong diverse domestic and international client
base. Euronext operates regulated and transparent equity and
derivatives markets, one of Europe’s leading electronic fixed
income trading markets and is the largest centre for debt and funds
listings in the world. Its total product offering includes
Equities, FX, Exchange Traded Funds, Warrants & Certificates,
Bonds, Derivatives, Commodities and Indices. The Group provides a
multi-asset clearing house through Euronext Clearing, and custody
and settlement services through Euronext Securities central
securities depositories in Denmark, Italy, Norway and Portugal.
Euronext also leverages its expertise in running markets by
providing technology and managed services to third parties. In
addition to its main regulated market, it also operates a number of
junior markets, simplifying access to listing for SMEs. For the
latest news, go to euronext.com or follow us on Twitter
(twitter.com/euronext) and LinkedIn (linkedin.com/euronext).
Disclaimer
This press release is for information purposes
only: it is not a recommendation to engage in investment activities
and is provided “as is”, without representation or warranty of
any kind. While all reasonable care has been taken to ensure the
accuracy of the content, Euronext does not guarantee its accuracy
or completeness. Euronext will not be held liable for any loss or
damages of any nature ensuing from using, trusting or acting on
information provided. No information set out or referred to in this
publication may be regarded as creating any right or obligation.
The creation of rights and obligations in respect of financial
products that are traded on the exchanges operated by Euronext’s
subsidiaries shall depend solely on the applicable rules of the
market operator. All proprietary rights and interest in or
connected with this publication shall vest in Euronext. This press
release speaks only as of this date. Euronext refers to Euronext
N.V. and its affiliates. Information regarding trademarks and
intellectual property rights of Euronext is available at
www.euronext.com/terms-use.
© 2023, Euronext N.V. - All rights
reserved.
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1 Including proceeds from potential asset disposal
- 20230727_Buyback programme announcement_VF
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