from SAFRAN (EPA:SAF)
Safran - Share buyback for cancellation
PRESS RELEASE
Share buyback for cancellation
Paris, September 20, 2024
In July 2023, Safran (Euronext Paris: SAF) announced a Euro 1 billion share buyback for cancellation to be carried out in 2024 and 2025. A first tranche of this plan was executed in July and August 2024 for an amount of 250 million Euros.
On September 20, 2024, Safran has entered into an agreement with an investment services provider for a second tranche of this share buyback for cancellation. Under the terms of this agreement, Safran will repurchase its own shares (ISIN FR0000073272) for a maximum amount of Euro 500 million from September 23, 2024 and no later than December 11, 2024.
This operation will be carried out in accordance with the authorization granted on May 23, 2024 by the shareholders’ General Meeting that has set the maximum purchase price at Euro 300 per share.
Safran is an international high technology group operating in the aviation (propulsion, equipment and interiors), defense and space markets. Its core purpose is to contribute to a safer, more sustainable world, where air transport is more environmentally friendly, comfortable and accessible. Safran has a global presence, with 92,000 employees and sales of €23.2 billion in 2023 and holds, alone or in partnership, world or regional leadership positions in its core markets. Safran undertakes research and development programs to maintain the environmental priorities of its R&T and Innovation roadmap.
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Safran is listed on the Euronext Paris stock exchange and is part of the CAC 40 and Euro Stoxx 50 indices.
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Press
Catherine Malek : catherine.malek@safrangroup.com / +33 (0)1 40 60 80 28
Investor Relations
Armelle Gary : armelle.gary@safrangroup.com / + 33 (0)1 40 60 82 46
Florent Defretin : florent.defretin@safrangroup.com / + 33 (0)1 40 60 27 30
Aurélie Lefebvre : aurelie.lefebvre@safrangroup.com / +33 (0)1 40 60 82 19