Sodexo S.A. (ENXTPA:SW) commences an Equity Buyback Plan for 5% of its issued share capital, for €700 million, under the authorization approved on December 14, 2021.

Sodexo S.A. (ENXTPA:SW) commences share repurchases on November 7, 2022, under the program mandated by the shareholders in the Annual General Meeting held on December 14, 2021. As per the mandate, the company is authorized to repurchase not more than 5% of its issued share capital, for not more than €700 million. The shares may be repurchased at a price not more than €95 per share.

The shares may be repurchased to implement a stock option plan or to grant free shares for the company's employees and/or corporate officers and/or to transfer shares for consideration or otherwise in connection with mergers and acquisitions. The repurchased shares may also be cancelled. The shares may be repurchased such that the company does not at any time have more treasury shares than the legally permitted maximum of 10% of its share capital.

The plan will be valid for 18 months from the Annual General Meeting. As of August 31, 2021, the company had 1,166,593 treasury shares.