Rémy Cointreau: End of the Share Buyback Programme

Rhea-AI Summary

Rémy Cointreau completed its share buyback program, initiated on September 8, 2022, and ending on December 19, 2022. The Group repurchased 1,000,000 shares, equivalent to 1.93% of its share capital, at an average price of 164.53 euros, totaling 164,531,775.24 euros. The acquired shares will be used for various strategic purposes, including capital reduction and fulfilling incentive program obligations. This action aligns with the company's objective to enhance shareholder value.

Positive

• Completed share buyback enhances shareholder value.
• Repurchase of 1,000,000 shares signals confidence in the company's financial health.

Negative

• None.

PARIS--(BUSINESS WIRE)-- Regulatory News:

Rémy Cointreau’s (Paris:RCO) share buyback programme, which started on September 8, 2022 (cf. press release of September 7, 2022), was fully completed on December 19, 2022.

Between September 8, 2022, and December 19, 2022, the Group acquired 1 000 000 shares (representing 1.93% of the share capital of the company), at an average price of 164.5318 euros, i.e. an aggregate purchase price of 164 531 775.24 euros.

As announced in the press release dated September 7, 2022, the shares thus acquired will be allocated to the following objectives:

• Decrease the share capital by cancelling treasury shares
• Hold all or part of the shares acquired with a view to their subsequent exchange or use as payment in relation to acquisitions, contributions, mergers and share splits
• Meet obligations arising from free share incentive programmes for employees and/or corporate officers of the company and/or its affiliates
• Meet obligations arising from securities giving access to the share capital.

This decision does not affect the performance of the liquidity contract signed by the company.

The details of the operations carried out under this buyback programme are available on Rémy Cointreau’s website: www.remy-cointreau.com in the section “Finance/Regulatory Information”.

About Rémy Cointreau

All around the world, there are clients seeking exceptional experiences; clients for whom a wide range of terroirs means a variety of flavors. Their exacting standards are proportional to our expertise – the finely-honed skills that we pass down from generation to generation. The time these clients devote to drinking our products is a tribute to all those who have worked to develop them. It is for these men and women that Rémy Cointreau, a family-owned French Group, protects its terroirs, cultivates exceptional multi-centenary spirits and undertakes to preserve their eternal modernity. The Group’s portfolio includes 14 singular brands, such as the Rémy Martin and Louis XIII cognacs, and Cointreau liqueur. Rémy Cointreau has a single ambition: becoming the world leader in exceptional spirits. To this end, it relies on the commitment and creativity of its 1,924 employees and on its distribution subsidiaries established in the Group’s strategic markets. Rémy Cointreau is listed on Euronext Paris.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221221005328/en/

Investor relations: Célia d’Everlange / investor-relations@remy-cointreau.com

Media relations: Carina Alfonso Martin / press@remy-cointreau.com

Source: Rémy Cointreau

FAQ

What was the purpose of Rémy Cointreau's share buyback program?

The share buyback program aimed to reduce share capital, facilitate future acquisitions, and fulfill employee incentive obligations.

When did the share buyback program for REMYY start and end?

The buyback program started on September 8, 2022, and ended on December 19, 2022.

How many shares did Rémy Cointreau buy back under this program?

Rémy Cointreau repurchased 1,000,000 shares, representing 1.93% of its share capital.

What was the average price per share in the buyback program for REMYY?

The average purchase price was 164.53 euros per share.

What impact does the share buyback have on REMYY stock?

The buyback program is expected to enhance shareholder value and improve earnings per share (EPS).