Rémy Cointreau: Implementation of a Share Buyback Program

Rhea-AI Summary

Rémy Cointreau's Board of Directors has initiated a share buyback program, allowing the purchase of up to 1 million shares, representing 1.94% of its capital. This decision aligns with the resolutions passed at the Shareholders’ Meeting on July 21, 2022. The buyback aims to reduce share capital through cancellation of treasury shares, and to manage shares for potential acquisitions and employee incentive programs. The program is set to conclude by March 24, 2023, subject to market conditions.

Positive

• Share buyback of up to 1 million shares indicates confidence in stock value.
• Buyback may enhance shareholder value through capital reduction.

Negative

• None.

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

In accordance with resolutions 18 and 19 approved by the Shareholders’ Meeting on July 21, 2022¹, the Board of Directors of Rémy Cointreau (Paris:RCO) decided to authorize the Group’s Chief Executive Officer to implement a share buyback program.

Pursuant to this authorisation, an investment services provider will be instructed to purchase up to a maximum of 1 million shares of Rémy Cointreau SA, accounting for 1.94% of the share capital, under the price conditions authorized by Resolution 18 passed at the Shareholders’ Meeting on July 21, 2022.

The purpose of the buyback program is to enable the following transactions to be performed, in decreasing order of priority:

• 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.

Subject to market conditions² , this buyback programme will expire no later than March 24, 2023.

Regulated information in connection with this press release can be found at www.remy-cointreau.com.

¹See section 7.1.4 of the 2021-22 Universal Registration Document
² The implementation of these buybacks, their duration, and the final amounts thus repurchased will depend in particular on market conditions. Rémy Cointreau reserves the right to change all or part of the terms of these buybacks, within the limits indicated above

View source version on businesswire.com: https://www.businesswire.com/news/home/20220907005771/en/

Investor relations: Célia d’Everlange / +33 6 03 65 46 78

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

Source: Rémy Cointreau

FAQ

What is the purpose of the share buyback program by Rémy Cointreau (REMYY)?

The share buyback program aims to reduce share capital, facilitate acquisitions, and meet employee incentive obligations.

How many shares will be repurchased under the Rémy Cointreau buyback plan?

Up to 1 million shares, or 1.94% of the share capital, will be repurchased.

When does the share buyback program for Rémy Cointreau (REMYY) expire?

The buyback program is set to expire no later than March 24, 2023.

What are the potential impacts of the buyback program on Rémy Cointreau's stock price?

The buyback program could potentially enhance stock price by reducing share supply and signaling confidence in the company's future.