Legrand Signs Share Buyback Agreement

Rhea-AI Summary

Legrand announced a share buyback program for up to 515,000 shares, representing approximately 0.19% of its capital. The program will commence on February 15, 2023 and conclude no later than March 15, 2023. This initiative is authorized by the shareholders' meeting on May 25, 2022, with a maximum purchase price of 150 euros per share. The repurchased shares will primarily support maturing performance share plans. Legrand, a global expert in electrical and digital building infrastructures, reported sales of €8.3 billion in 2022. The company is part of the CAC 40 and CAC 40 ESG indexes.

Positive

• Initiation of a share buyback program may increase shareholder value.
• Authorization allows for strategic use of excess capital.
• Enhances confidence in the company's financial health.

Negative

• None.

LIMOGES, France--(BUSINESS WIRE)-- Regulatory News:

Legrand (Paris:LR) announced today the signing of a contract with an investment services provider to implement a share buyback program for up to 515,000 shares, i.e. around 0.19% of its capital. The purchase period agreement is expected to begin on February 15, 2023 and end on or before March 15, 2023 at the latest.

Under the authorization granted by the Ordinary and Extraordinary General Meeting of Shareholders of May 25, 2022, the average price per share for the operation may not exceed the maximum price of 150 euros.

The shares purchased pursuant to this agreement will mainly be allocated to maturing performance share plans.

------------------------

Key financial dates:

• 2023 first-quarter results: May 4, 2023
  “Quiet period¹” starts April 4, 2023
• General Meeting of Shareholders: May 31, 2023
• Ex-dividend date: June 2, 2023
• Dividend payment: June 6, 2023
• 2023 first-half results: July 31, 2023
  “Quiet period¹” starts July 1, 2023

About Legrand

Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for commercial, industrial and residential markets makes it a benchmark for customers worldwide. The Group harnesses technological and societal trends with lasting impacts on buildings with the purpose of improving life by transforming the spaces where people live, work and meet with electrical, digital infrastructures and connected solutions that are simple, innovative and sustainable. Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing its strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings—including products with enhanced value in use (faster expanding segments: datacenters, connected offerings and energy efficiency programs). Legrand reported sales of €8.3 billion in 2022. The company is listed on Euronext Paris and is notably a component stock of the CAC 40 and CAC 40 ESG indexes. (code ISIN FR0010307819).
https://www.legrandgroup.com

¹ Period of time when all communication is suspended in the run-up to publication of results.

Readers are invited to verify authenticity of press releases by Legrand with the CertiDox app. More information on www.certidox.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230214005612/en/

Investor relations

Legrand

Ronan Marc

Tel: +33 (0)1 49 72 53 53

ronan.marc@legrand.com

Press relations

TBWA Corporate

Tiphaine Raffray

Mob: +33 (0)6 58 27 78 98

tiphaine.raffray@tbwa-corporate.com

Source: Legrand

FAQ

What is the purpose of Legrand's share buyback program?

The share buyback program aims to allocate shares to maturing performance share plans while boosting shareholder value.

When does Legrand's share buyback begin and end?

The share buyback program will start on February 15, 2023, and is expected to conclude by March 15, 2023.

How many shares are included in Legrand's buyback program?

The buyback program includes up to 515,000 shares, which is about 0.19% of Legrand's capital.

What is the maximum price per share for Legrand's buyback?

The maximum price per share for the buyback is set at 150 euros.

How will Legrand's share buyback impact its stock?

The buyback could positively impact Legrand's stock by increasing demand and potentially raising its stock price.