Syensqo Announces Launch of New Share Buyback Tranche
Syensqo Unveils Fourth Tranche of Share Buyback Initiative
Syensqo, renowned for its commitment to innovation, has officially announced the initiation of the fourth tranche of its Share Buyback Program. This significant step is part of a broader strategy to reinforce shareholder value and instill confidence in its financial performance. The program, initially introduced on September 30, 2024, encompasses a substantial allocation of up to €300 million.
Details of the Buyback Program
The latest tranche commenced on the last day of July and will extend its operations through to mid-November, with a maximum expense allowance of €50 million. By actively engaging in share buybacks during this period, Syensqo aims to optimize its capital structure and return surplus cash to shareholders.
Execution and Compliance
This buyback initiative is set to be executed in alignment with the authorization granted by the Extraordinary Shareholders’ Meeting held in December 2023. The process will be managed by qualified financial intermediaries, ensuring full compliance with all regulatory stipulations and corporate governance standards.
Future Outlook and Strategy
In the spirit of enhancing shareholder value, all shares repurchased through this fourth tranche will be ultimately canceled. By systematically reducing the number of outstanding shares, Syensqo aims to increase earnings per share and create greater value for its investors in the long run.
About Syensqo
Syensqo is at the forefront of scientific innovation, dedicated to developing solutions that significantly improve various facets of life, whether in work, travel, or personal activities. Inspired by the influential gatherings initiated by the scientific community in 1911, Syensqo harnesses the talents of over 13,000 associates worldwide to drive groundbreaking progress. Their developments encompass diverse applications ranging from sustainable consumer goods, cleaner technologies, to advanced healthcare solutions.
Contact Information for Inquiries
For investors and analysts seeking more information, please reach out to:
- Sherief Bakr: +44 7920 575 989
- Bisser Alexandrov: +33 607 635 280
- Loïc Flament: +32 478 69 74 20
- Robbin Moore-Randolph: +1 470 493 2433
Media inquiries can be directed to:
- Perrine Marchal: +32 478 32 62 72
- Laetitia Schreiber: +32 487 74 38 07
Frequently Asked Questions
What is the purpose of Syensqo's Share Buyback Program?
Syensqo's Share Buyback Program aims to enhance shareholder value by repurchasing shares, thereby increasing earnings per share and providing greater market confidence.
When will the new tranche of the buyback program take place?
The latest tranche started on July 31 and will run until November 15, covering an allocation of up to €50 million.
What happens to the shares repurchased in this tranche?
All shares acquired during this tranche will be canceled, effectively reducing the total number of outstanding shares.
How is the buyback program executed?
The buyback will be carried out by a financial intermediary in accordance with applicable laws and regulations, ensuring compliance with corporate governance standards.
Who can be contacted for further inquiries?
For inquiries related to investor relations, contacts include Sherief Bakr and Bisser Alexandrov, among others. For media inquiries, Perrine Marchal and Laetitia Schreiber are available to assist.
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