Rémy Cointreau: Implementation of a Share Buyback Program

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09/07/2022 - 11:36 AM

PARIS--(BUSINESS WIRE)-- Regulatory News:

In accordance with resolutions 18 and 19 approved by the Shareholders’ Meeting on July 21, 2022¹, the Board of Directors of Rémy Cointreau (Paris:RCO) decided to authorize the Group’s Chief Executive Officer to implement a share buyback program.

Pursuant to this authorisation, an investment services provider will be instructed to purchase up to a maximum of 1 million shares of Rémy Cointreau SA, accounting for 1.94% of the share capital, under the price conditions authorized by Resolution 18 passed at the Shareholders’ Meeting on July 21, 2022.

The purpose of the buyback program is to enable the following transactions to be performed, in decreasing order of priority:

Decrease the share capital by cancelling treasury shares
Hold all or part of the shares acquired with a view to their subsequent exchange or use as payment in relation to acquisitions, contributions, mergers and share splits
Meet obligations arising from free share incentive programmes for employees and/or corporate officers of the company and/or its affiliates
Meet obligations arising from securities giving access to the share capital.

Subject to market conditions² , this buyback programme will expire no later than March 24, 2023.

Regulated information in connection with this press release can be found at www.remy-cointreau.com.

¹See section 7.1.4 of the 2021-22 Universal Registration Document
² The implementation of these buybacks, their duration, and the final amounts thus repurchased will depend in particular on market conditions. Rémy Cointreau reserves the right to change all or part of the terms of these buybacks, within the limits indicated above