Crédit Agricole S.A. Announces New Share Buyback Initiative
Crédit Agricole S.A. Announces New Share Buyback Initiative
Crédit Agricole S.A. is set to launch an exciting new chapter in its financial journey. The company has received all necessary supervisory approvals to commence a share repurchase program targeting up to 22,886,191 ordinary shares. This initiative is not only a strategic maneuver but also reflects the company’s strong commitment to enhancing shareholder value.
Details of the Share Repurchase Program
Timeline and Implementation
The share repurchase program is scheduled to kick off on October 1 and aims to conclude by November 13. During this window, all repurchased shares will be canceled, effectively reducing the total number of shares available in the market. This strategic decision highlights the company's proactive approach to managing its capital structure.
Purpose and Benefits of the Program
The main objective behind this share buyback initiative is to mitigate the dilutive effects of a capital increase scheduled for employees in 2025. By investing in its own shares, Crédit Agricole S.A. aims to stabilize its share price and reinforce investor confidence.
Strategic Execution of the Buyback
To ensure the effective execution of this program, Crédit Agricole S.A. has engaged an independent investment services provider. This partnership is essential for managing the purchases of shared ownership in compliance with market regulations and ensuring transparency in operations.
Adherence to Regulatory Standards
The company's approach will strictly adhere to the guidelines set by the Commission Delegated Regulation (EU) 2016/1052, which governs buyback programs and stabilisation measures. This compliance underscores the company’s dedication to regulatory standards and ethical corporate behavior.
Suspension of Liquidity Agreements
During the implementation of the share repurchase program, the existing liquidity agreement with Kepler Cheuvreux will be temporarily suspended. This decision highlights the focus on executing the buyback strategy without any conflicting commitments.
Further Information on the Program
Details about the share repurchase program and the strategic intention behind it can be found in Crédit Agricole S.A.'s Universal Registration Document. This document provides insights into the company’s financial strategies and is available through the company’s official channels.
Company Contacts for Queries
For further questions or clarifications about this initiative, stakeholders can reach out to the company’s press contacts:
Alexandre Barat: 06 19 73 60 28 – alexandre.barat@credit-agricole-sa.fr
Olivier Tassain: 06 75 90 26 66 – olivier.tassain@credit-agricole-sa.fr
Frequently Asked Questions
What is the purpose of the share repurchase program?
The purpose is to offset the dilutive effect from a capital increase planned for employees in 2025.
How many shares will Crédit Agricole repurchase?
Crédit Agricole plans to repurchase up to 22,886,191 ordinary shares.
When will the share repurchase program start and end?
The program will start on October 1 and is expected to conclude by November 13.
Who manages the execution of this share buyback?
An independent investment services provider will oversee the execution of the program.
Where can I find more information about this initiative?
More details are available in the Universal Registration Document on the company's website.
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