Aramis Group Introduces Share Buyback Initiative
Aramis Group has taken a significant step by implementing a share buyback program, an essential part of its strategy for supporting employee compensation, particularly for key managers.
Details of the Buyback Program
This announcement follows the resolutions passed in a recent General Meeting, whereby Aramis Group aims to repurchase shares to fulfill the needs of its performance share allocation plans set for its dedicated personnel.
The company has committed to acquiring up to 550,000 shares, which represents about 0.66% of its capital, with the goal of enhancing its value-sharing strategy first articulated during its initial public offering back in 2021.
Operational Execution
To facilitate this program, Aramis Group has appointed Kepler Cheuvreux as the investment service provider responsible for executing the trades. The buyback process is scheduled to commence shortly and will extend over a period of nine months.
The core intention behind this initiative is not only to align with the company’s value-sharing philosophy but also to reinforce employee engagement, reflecting the growth and sustainability that Aramis Group is striving for.
Company Overview
Founded in 2001, Aramis Group is known as the leading European platform for B2C online used car sales. The company operates across six different countries and has made a name for itself as an expert in e-commerce and vehicle refurbishment. With a focus on sustainable mobility, Aramis Group contributes to the circular economy through its innovative offerings.
This year alone, it achieved a remarkable revenue figure exceeding €2.3 billion by selling over 119,000 vehicles directly to consumers. The company enjoys high traffic on its digital platforms, attracting over 70 million visitors annually and employing a passionate workforce of more than 2,500 individuals. It also boasts nine large-scale refurbishment centers throughout Europe, solidifying its operational capabilities.
Investors and Media Contacts
For those wishing to gain further insight into this initiative or other company matters, Aramis Group is readily accessible for investor inquiries. Interested parties can reach them at:
Investor Contact: investor@aramis.group
Press Contact: Brunswick
Hugues Boëton
Tristan Roquet-Montégon
aramisgroup@brunswickgroup.com
+33 (0)6 79 99 27 15
Frequently Asked Questions
What is the purpose of the share buyback program?
The buyback program aims to allocate repurchased shares as part of the performance share allocation plans for key employees and managers, enhancing their engagement and reward structure.
How many shares will Aramis Group buy back?
Aramis Group plans to buy back up to 550,000 shares, which is approximately 0.66% of its capital.
Who is managing the buyback program?
The buyback operations are being coordinated by Kepler Cheuvreux, which will handle the purchasing of shares accordingly.
What is the duration of the buyback program?
The share buyback program will last for a period of nine months, starting from the designated commencement date.
Why is this program important for Aramis Group?
This initiative not only supports employee compensation but also reinforces Aramis Group’s commitment to its value-sharing strategy established during the IPO, promoting sustainable growth and employee satisfaction.
