Edenred appoints investment services provider for share buyback mandate
Edenred has announced that it has mandated an investment services provider (ISP) to execute a share buyback program for a maximum amount of 50 million euros. The mandate, which runs until October 31, falls under the buyback program authorized by the general shareholders' meeting on May 7.
The employee benefits solutions group specified that the repurchased shares will be used to cover free share allocation plans.
For indicative purposes, based on the closing share price on May 29, the 50 million euro amount would represent a total volume of 2.1 million shares (approximately 0.9% of the company's share capital).
Edenred SE is a leading digital services and payments platform and the everyday companion for people at work, connecting over 60 million employees and more than 2 million partner merchants in 44 countries via nearly 1 million corporate clients.
Edenred SE offers specific-purpose payment solutions for food (meal benefits), incentives (gift cards, employee engagement platforms), mobility (multi-energy, maintenance, toll, parking and commuter solutions) and corporate payments (virtual cards). These solutions enhance employee well-being and purchasing power, improve companies' attractiveness and efficiency, and vitalize the employment market and the local economy.
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