In This Article:
(authorized at the January 28, 2025 Annual General Meeting)
PARIS LA DÉFENSE, January 29, 2025--(BUSINESS WIRE)--Regulatory News:
Elior Group (Paris:ELIOR):
I - LEGAL FRAMEWORK OF THE SHARE BUYBACK PROGRAM
The share buyback program is governed by the applicable laws and regulations. It was authorized by the shareholders at the Annual General Meeting of Elior Group (the "Company") held on January 28, 2025 (the "AGM") in the terms mentioned in the Notice of Meeting as published on December 20, 2024 in the France’s Official Legal Journal ("BALO") and displays the features described below.
The program has been put in place pursuant to a decision taken by the Company’s Board of Directors on January 28, 2025.
II – PURPOSES OF THE SHARE BUYBACK PROGRAM
In accordance with the 11th resolution adopted at the AGM, the share buyback program may be used for the following purposes:
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To cancel all or some of the purchased shares, in connection with a capital reduction carried out in accordance with the authorization granted, or to be granted, by the shareholders;
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To hold shares in treasury to be subsequently used in exchange or as payment in connection with any mergers, demergers, asset contributions or external growth transactions, provided that the number of shares purchased for such operations does not exceed 5% of the Company’s capital;
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To allocate shares on exercise of rights attached to securities redeemable, convertible, exchangeable or otherwise exercisable for shares of the Company;
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To hedge the risks arising on the Company’s financial instrument obligations, particularly the risk of fluctuations in the Elior Group share price;
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To allocate shares for the implementation of (i) stock option plans, (ii) free share plans, (iii) employee share ownership plans, in operations complying with Articles L. 3331-1 et seq. of the French Labor Code, and/or (iv) grants of shares to employees and/or officers of the Company or of any related entities;
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To maintain a liquid market for the Company’s shares under a liquidity contract entered into with an investment services provider that complies with the practices authorized by the applicable regulations;
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more generally, to carry out any transactions or market practices currently authorized or that may be authorized in the future by the applicable laws and regulations or by the Autorité des Marchés Financiers.
III - TERMS AND CONDITIONS OF THE SHARE BUYBACK PROGRAM
Maximum proportion of the Company’s capital: the shares purchased under the buyback program may not represent more than 10% of the Company’s capital, determined based on the number of shares making up the Company’s capital at the date on which the authorization is used. Future corporate actions that may be carried out by the Company shall not result in owning, directly or indirectly through its affiliates, more than 10% of the Company’s capital.