Share repurchase program - Reassignment of self-detained shares to a new purpose
23 Dezember 2019 - 06:26PM
Share repurchase program - Reassignment of self-detained shares to
a new purpose
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Press release23 December 2019 |
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Share repurchase
programReassignment of self-detained shares to a
new purpose
The Chief executive officer, acting on the
delegation of the Board of Directors, has decided on 23 December
2019 to proceed, within the share repurchase program authorised by
the General assembly, to the reassignment of 3,646,913 EDF shares
initially assigned to the liquidity contract1 as well as of 50,594
shares assigned to an Employee Offering of 2007, objective which
became devoid of purpose: this represents a total of 3.697.507
shares devoted to the capital reduction by the mean of cancelation
of those shares.
The repurchase program has been authorized for a
period of 18 months by the 18th resolution of the General assembly
of 16 May 2019.
The objectives of the share repurchase program
are:
- the reduction of the capital by cancelling shares;
- the allocation of shares of employees and former employees of
EDF Group, under the terms and arrangements provided by the law, in
particular in the framework of any repurchase or free share
allocation plan or of Employees Offering;
- the delivery of shares upon the exercise of rights attached to
securities giving access to capital by reimbursement, conversion,
exchange, presentation of a bond, or by any other means, and all
measures of coverage relating to the obligations of the Company or
of one of its subsidiaries linked with these securities;
- regulating the share price through a liquidity contract;
- the delivery of shares when exercising rights attached to
options giving access to the capital of the Company and the
realization of all hedging transactions relating to obligations of
the Company or of one of its subsidiaries linked to these
options;
- the retain and subsequently tender of shares as part of
external growth transactions, contribution, merger of
spin-off;
- more generally the realization of any operation in compliance
with regulation in effect, or within the framework of any market
practice which may be accepted by the Autorité des Marchés
Financiers.
The maximum proportion of the share capital that
can be repurchased in the framework of this program is 10% of the
total number of shares composing the share capital (or 5% if it
concerns shares which have been acquired with a view to be retained
and to be handed over subsequently for payment or exchange in the
scope of external growth operations), it being specified that when
the shares are bought back for the purpose of secondary market
animation in the framework of a liquidity contract, the number of
shares being taken into consideration for the calculation within
the limit of 10% corresponds to the number of shares purchased,
minus the number of shares which have been resold during the
duration of the authorization.
The General assembly has fixed at 30 euros per
share the maximum price of repurchase, and at 2 billion euros the
total amount of funds dedicated to the program.
The General assembly has given all powers to the
Board of directors, with the option of delegating, to implement
this authorization, and in particular to affect or re-affect the
shares acquired to the various purposes envisaged.
Assignment of portfolio as of 23
December 2019
As of 23 December 2019, the Company was owning a
total of 4.894.027 of its own shares, composed of:
- 1.196.520 shares owned in the framework of the liquidity
contract (representing 0.0386% of its share capital),
- 3.697.507 shares with the objective of capital reduction by
cancellation of shares.
This press release is certified. Check its authenticity
on medias.edf.com
A key player in energy transition, the EDF Group
is an integrated electricity company, active in all areas of the
business: generation, transmission, distribution, energy supply and
trading, energy services. A global leader in low-carbon energies,
the Group has developed a diversified generation mix based on
nuclear power, hydropower, new renewable energies and thermal
energy. The Group provides energy and services to approximately
39.8 million customers (*), including 29.7 million in France. It
generated consolidated sales of €69 billion in 2018. EDF is listed
on the Paris Stock Exchange.
(*) Customers are counted at the end of 2018 per delivery site;
a customer can have two delivery points: one for electricity and
another for gas.
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Please, only
print this document if absolutely necessary. EDF SA
22-30, avenue de Wagram 75382 Paris cedex 08EDF SA share capital
€1,551,810,543 euros552 081 317 R.C.S. Paris www.edf.fr |
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CONTACTS
EDF Press office: +33 (0)1 40 42 46
37 Analysts and investors: +33 (0)1 40 42 40 38 |
1 EDF press releases of 29 March 2019 and 9 July 2019.
- PR-share repurchase and reassignment program_certified