SES Announces EUR 100 million Share Buyback Programme
06 Mai 2021 - 7:30AM
Business Wire
SES S.A. today announces a share buyback programme of up to EUR
100 million to be executed by 31 December 2021 under the
authorisation given by the Annual General Meeting of shareholders
held on 1 April 2021.
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SES announces EUR 100 million share
buyback programme (Photo: Business Wire)
The company will purchase up to 12 million A-shares and up to 6
million B-shares in equal proportion to maintain the ratio of two
A-shares to one B-share, as required by the Articles of
Association. The aggregate value of the programme shall not exceed
EUR 100 million and the shares acquired under the programme are
intended to be cancelled to reduce the total number of voting and
economic shares. SES affirms its commitment to maintain balance
sheet metrics consistent with investment grade ratios.
“The share buyback programme that we are announcing today
reflects our confidence in the long-term fundamentals of the
business. The current share price does not reflect the underlying
value of SES and this programme represents an attractive
opportunity to deploy capital for the optimal benefit of our
shareholders,” said Steve Collar, CEO of SES. “SES is uniquely
positioned with targeted and differentiated investments to capture
exponential growth in demand for connectivity. This is set to fuel
future top line and EBITDA growth with strong cash flow further
enhanced by meaningfully lower capital expenditure, as well as the
proceeds from our C-band initiative.”
At 30 April 2021, the number of issued shares is as follows:
Total shares
(voting)
% Voting
shareholding
Total shares
(economic)
% Economic
participation
Registered shares
4,593,750
0.80%
4,593,750
0.80%
FDRs (free float)
378,863,850 (1)
65.87%
378,863,850
65.87%
Total A-shares (A)
383,457,600 (2)
66.67% (2)
383,457,600
83.33%
Total B-shares (B)
191,728,800 (2)
33.33% (2)
76,691,520 (3)
16.67%
Total shares (A + B)
575,186,400
460,149,120
1) At 30 April 2021, SES held 8,198,001
FDRs as treasury shares on the balance sheet
2) The ratio of voting A-shares to voting
B-shares must be maintained at 2:1 as required by the Articles of
Incorporation
3) Each B-shares carries 40% of the
economic rights of an A-share
For further information, see
https://www.ses.com/company/investors/shareholder-information/shareholders
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About SES
SES has a bold vision to deliver amazing experiences everywhere
on earth by distributing the highest quality video content and
providing seamless connectivity around the world. As the leader in
global content connectivity solutions, SES operates the world’s
only multi-orbit constellation of satellites with the unique
combination of global coverage and high performance, including the
commercially proven, low latency Medium Earth Orbit O3b system. By
leveraging a vast and intelligent, cloud-enabled network, SES is
able to deliver high quality connectivity solutions anywhere on
land, at sea or in the air, and is a trusted partner to the world’s
leading telecommunications companies, mobile network operators,
governments, connectivity and cloud service providers,
broadcasters, video platform operators and content owners. SES’s
video network carries over 8,200 channels and has an unparalleled
reach of 361 million households, delivering managed media services
for both linear and non-linear content. The company is listed on
Paris and Luxembourg stock exchanges (Ticker: SESG). Further
information is available at: www.ses.com.
Disclaimer
This presentation does not, in any jurisdiction, including
without limitation in the U.S., constitute or form part of, and
should not be construed as, any offer for sale of, or solicitation
of any offer to buy, or any investment advice in connection with,
any securities of SES, nor should it or any part of it form the
basis of, or be relied on in connection with, any contract or
commitment whatsoever.
No representation or warranty, express or implied, is or will be
made by SES, its directors, officers or advisors, or any other
person, as to the accuracy, completeness or fairness of the
information or opinions contained in this presentation, and any
reliance you place on them will be at your sole risk. Without
prejudice to the foregoing, none of SES, or its directors, officers
or advisors accept any liability whatsoever for any loss however
arising, directly or indirectly, from use of this presentation or
its contents or otherwise arising in connection therewith.
This presentation includes “forward-looking statements”. All
statements other than statements of historical fact included in
this presentation, including without limitation those regarding
SES’s financial position, business strategy, plans and objectives
of management for future operations (including development plans
and objectives relating to SES products and services), are
forward-looking statements. Such forward-looking statements involve
known and unknown risks, uncertainties and other important factors
that could cause the actual results, performance or achievements of
SES to be materially different from future results, performance or
achievements expressed or implied by such forward-looking
statements. Such forward-looking statements are based on numerous
assumptions regarding SES and its subsidiaries and affiliates,
present and future business strategies, and the environment in
which SES will operate in the future, and such assumptions may or
may not prove to be correct. These forward-looking statements speak
only as at the date of this presentation. Forward-looking
statements contained in this presentation regarding past trends or
activities should not be taken as a representation that such trends
or activities will occur or continue in the future. SES, and its
directors, officers and advisors do not undertake any obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20210505006251/en/
Richard Whiteing Investor Relations Tel: +352 710 725 261
richard.whiteing@ses.com Suzanne Ong External Communications Tel:
+352 710 725 500 suzanne.ong@ses.com
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