Valeo Group | 24 Mar, 2022 | 5 min

Share buy-back to cover performance share plans and allotment of shares to employees

Valeo has requested the assistance of an investment services provider in order to achieve certain objectives of its share buy-back program, as authorized by the General Shareholders’ Meeting of May 26, 2021.

According to the terms of the contract signed on March 24, 2022, it is agreed between the parties that the investment services provider will sell to Valeo, who undertakes to acquire them no later than May 13, 2022, a certain quantity of Valeo shares within the limit of 50 million euros. The average price per share will be determined based on the mean volume-weighted market price observed during the entire duration of the contract. The unit price may not in any case exceed the maximum purchase price of 70 euros per share set by the General Shareholders’ Meeting of May 26, 2021. All these shares will be allocated to cover the implementation of performance share plan and the allotment of shares to employees as part of their involvement in the performance and growth of the Company or the implementation of any company employee savings plan.

 

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