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Pernod Ricard: Continuation of Share Buy-back Program
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Pernod Ricard has initiated a share buy-back program totaling approximately €750 million for FY22, with about €250 million executed in the first half and around €300 million completed in February and March. The company signed an agreement to repurchase shares worth up to €200 million starting on March 16, 2022, potentially extending until April 6, 2022. Shares will be bought at a maximum price of €280 each, in line with shareholder approval from November 2021. Pernod Ricard is a leading global producer of wines and spirits, reporting consolidated sales of €8.824 billion in FY21.
Positive
Share buy-back program of approximately €750 million for FY22 is underway.
Successful execution of €250 million buy-back in the first half and €300 million in early 2022.
Agreement to repurchase shares up to €200 million reflects strong market confidence.
Negative
None.
PARIS--(BUSINESS WIRE)--
Regulatory News:
Press Release – Paris, 16 March 2022
As part of its share buy-back program (c. €750m announced for FY22 of which c. €250m already executed in the first half and c. €300m executed in February and March), Pernod Ricard (Paris:RI) has signed an agreement with an investment services provider, whereby Pernod Ricard will undertake to acquire its own shares for a maximum amount of c. €200m over a period starting on March 16, 2022 and possibly extending until April 6, 2022.
The price of the shares purchased under this mandate shall not exceed the limit of €280 per share set by Pernod Ricard Shareholders’ Meeting held on November 10, 2021.
About Pernod Ricard
Pernod Ricard is the No.2 worldwide producer of wines and spirits with consolidated sales amounting to €8,824 million in fiscal year FY21. The Group, which owns 16 of the Top 100 Spirits Brands, holds one of the most prestigious and comprehensive portfolios in the industry with over 240 premium brands distributed across more than 160 markets. Pernod Ricard’s portfolio includes Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur, Mumm and Perrier-Jouët champagnes, as well Jacob’s Creek, New Zealand Wines, Campo Viejo, Mumm Sparkling and Kenwood wines. Pernod Ricard’s strategy focuses on investing in long-term and sustainable growth for all its stakeholders, remaining true to its founding values: entrepreneurial spirit, mutual trust, and strong sense of ethics. The Group’s decentralised organisation empowers its 18,500 employees to be on-the-ground ambassadors of its vision of “Créateurs de Convivialité”. Pernod Ricard 2030 Sustainability and Responsibility roadmap “Good Times from a Good Place” is integrated into all its activities from grain to glass, and Pernod Ricard is recognised as a UN Global Compact LEAD participant for its contribution to the United Nations Sustainable Development Goals (SDGs). Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code: FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices.
