This description was prepared in accordance with Articles 241-1 and 241-2 of the General Regulations of the Autorité des marchés financiers and in accordance with the provisions of Delegated Regulation (EU) 2016/1052 of
1. DATE OF THE GENERAL SHAREHOLDERS' MEETING THAT AUTHORIZED THE SHARE REPURCHASE PROGRAM AND ITS IMPLEMENTATION
The authorization for
2. NUMBER OF SECURITIES AND PROPORTION OF SHARE CAPITAL HELD DIRECTLY OR INDIRECTLY
As of
3. OBJECTIVES OF THE SHARE REPURCHASE PROGRAM
The objectives of the share repurchase program approved by the General Shareholders’ Meeting of
- ensure the liquidity or support the secondary market of the shares through an investment services provider, acting independently pursuant to a liquidity agreement that complies with the Professional Code of Conduct recognized by the Autorité des marchés financiers; or
- use all or a portion of the shares acquired to meet obligations related to stock option plans, existing free share grant plans, share grants pursuant to employee profit-sharing schemes and any other share grants to employees or executive corporate officers, including the implementation of company savings plans for employees and executive corporate officers of the Company and/or companies, in
France and/or outsideFrance , that are or will be related to it under the terms and conditions provided for by law, and to sell or grant shares to them in accordance with French or foreign laws and regulations; or - allow the completion of investments or financing through the subsequent delivery of shares (in exchange, as payment or otherwise) in connection with external growth transactions, mergers, spin-offs or contributions; or
- deliver shares upon the exercise of rights attached to securities granting a right to the allocation of shares in the Company by redemption, conversion, exchange, presentation of a warrant or in any other manner; or
- cancel all or a portion of the shares acquired under the conditions and within the limits provided for by Article L.
22-10-62 of the French Commercial Code.
4. MAXIMUM PROPORTION OF SHARE CAPITAL, MAXIMUM NUMBER, CHARACTERISTICS AND MAXIMUM PURCHASE PRICE OF SHARES AND MAXIMUM MONETARY AMOUNT ALLOCATED TO THE PROGRAM
As of
The General Shareholders’ Meeting of
The maximum purchase price set by the General Shareholders’ Meeting is €700 per share, excluding acquisition costs, bringing the total maximum amount allocated to the share repurchase program to €8,751,253,700.
5. TERM OF THE SHARE REPURCHASE PROGRAM
The term of the program is set at 18 months as from the Annual General Shareholders’ Meeting of
6. OVERVIEW OF THE PREVIOUS REPURCHASE PROGRAM
Under the previous share repurchase program authorized by the General Shareholders' Meeting of
In addition, 1,261,406 shares were canceled on
7. LIQUIDITY AGREEMENT
8. OPEN POSITIONS ON DERIVATIVE PRODUCTS
As of
***
In accordance with Article 241-2, II of the General Regulations of the Autorité des marchés financiers, during the implementation of the repurchase program, any significant change in any of the information listed in paragraphs 3, 4 and 5 above will be brought to the public’s attention as soon as possible in accordance with the procedures set out in Article 221-3 of such General Regulations.
About
A global Luxury group,
Contacts
Press | ||
Emilie Gargatte | +33 (0)1 45 64 61 20 | emilie.gargatte@kering.com |
+33 (0)1 45 64 62 53 | marie.demontreynaud@kering.com | |
Analysts/investors | ||
Claire Roblet | +33 (0)1 45 64 61 49 | claire.roblet@kering.com |
+33 (0)1 45 64 60 45 | laura.levy@kering.com |
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Attachment
- Press Release Description of the Share Repurchase Program
© OMX, source