on ACCOR (EPA:AC)
Accor Announces Share Buyback Programme Approved by Shareholders
Accor, a French Société Anonyme, has announced the approval of its share buyback programme, as confirmed by the shareholders' meeting held on May 31, 2024. With a share capital of €727,098,372 across 242,366,124 shares, this initiative is aimed at several specific objectives.
The programme's goals include the cancellation of shares for capital reduction, implementation of employee share and stock option plans, allocation of shares on the conversion of securities, and facilitating external growth transactions. Additionally, it aims to enhance market liquidity through a recognized liquidity service provider.
The maximum number of shares allowed for buyback is set at 10% of the share capital, equivalent to 26,236,612 shares, with a cap purchase price of €70 per share, totaling up to €1.76 billion. The programme is valid for 18 months, concluding on November 31, 2025.
As of May 31, 2024, Accor held 17,500 shares, allocated to its liquidity contract.
R. P.
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