Altice NV: Altice announces safe harbour share rep
Post# of 301275
October 16, 2017
Altice announces safe harbour share repurchase programme
Altice N.V. (Euronext: ATC, ATCB, "Altice") announces that its existing share repurchase programme announced on August 28, 2017 is suspended and that a new programme to repurchase shares also in closed periods will commence today and will continue until November 2, 2017 (inclusive).
As part of its buyback programme, Altice intends to purchase Altice common shares A and Altice common shares B on Euronext Amsterdam for an aggregate market value equivalent to up to €1 billion (taking into account the shares already purchased under the existing share repurchase programme).
Altice will use the common shares A and common shares B repurchased in connection with this programme respectively to meet obligations arising from share option plans and to reduce its share capital.
On June 28, 2017, the general meeting of shareholders authorised Altice to acquire shares in its own capital for a period of 18 months up to a maximum of 10% of the issued share capital at a price between the nominal value of the shares and 110% of the opening price at Euronext Amsterdam at the date of the acquisition. The share repurchase programme will be executed within the limitations of this authority granted by the general meeting of shareholders and of the authority granted at future general meetings of shareholders.
This share repurchase programme will be conducted within the parameters prescribed by the Market Abuse Regulation 596/2014 and the safe harbour parameters prescribed by the Commission Delegated Regulation 2016/1052 for buyback programmes. The share repurchases will be executed by an intermediary to allow for share repurchases also during closed periods. Transactions effected under this programme will be reported on in weekly press releases and published on Altice's website.
On November 3, 2017, Altice will resume its discretionary share repurchase activity.
Contacts
Head of Investor Relations Nick Brown: +41 79 720 1503 / nick.brown@altice.net
Head of Communications Arthur Dreyfuss: +41 79 946 4931 / arthur.dreyfuss@altice.net
Regulated information
This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.
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