Bénéteau S.A. commences an Equity Buyback Plan for 2,887,644 shares, representing 3.49% for €70 million, under the authorization approved on June 11, 2021.
April 28, 2022
Share
Bénéteau S.A. (ENXTPA:BEN) commences share repurchases on April 29, 2022, under the program mandated by the shareholders in the Combined General Meeting held on June 11, 2021. As per the mandate, the company is authorized to repurchase 2,887,644 shares, representing 3.49% of its issued share capital, such that it does not own more than 5% of its share capital at any point of time for €70 million. The maximum unit purchase price for shares is set at € 25 per share. The repurchased shares will be used in market activity or liquidity of the share by an investment service provider through a liquidity contract, for the transfer and/or allocation to employees and / or corporate officers of the company or its group, in the form of stock options and/or free shares and/or plans, company savings, and for the cancellation of shares in order to optimize earnings per share and optimize the profitability of equity. The authority will be valid for 18 months. As of June 11, 2021, the company had 82,789,840 ordinary shares in issue of which 1,251,848 shares in treasury.
On April 28, 2022, the company announced a share repurchase program. Under the program, the company gave an investment services provider a mandate for the purchase of a maximum 827,898 shares, at the maximum price not exceeding the limits set by the General Meeting and intended in particular to satisfy a forthcoming free share allocation program.
Bénéteau is among the world leaders in designing, producing and selling of leisure craft. The group also produces and markets recreational mobile homes. Net sales break down by product family as follows:
- boats (82.9%): sail boats (No. 1 worldwide) and motor boats (Bénéteau, Jeanneau and Prestige brands), yachts (CNB, Prestige Yachts, Monte Carlo Yachts), catamarans (Lagoon), fishing boats (Bénéteau Pêche) and service boats;
- recreational mobile homes (17.1%): O'Hara, IRM and Coco Sweet brands. The group also offers mobile home rentals.
Net sales are distributed geographically as follows: France (25.7%), Europe (35.9%), Americas (28.9%) and other (9.5%).
Bénéteau S.A. commences an Equity Buyback Plan for 2,887,644 shares, representing 3.49% for €70 million, under the authorization approved on June 11, 2021.
BÉNÉTEAU 
