Implementation of a share repurchase program

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Fri, 22/09/2017 - 08:30


Groupe PSA has requested the assistance of an Investment Services Provider in order to implement a Share Repurchase Program, as authorized by the Combined Annual General Shareholders’ Meeting of May 10, 2017.


According to the terms of the Agreement signed on September 21, 2017, it is agreed between the parties that the Investment Services Provider will sell to Groupe PSA, who undertakes to acquire them no later than the deadline of December 6, 2017, a certain quantity of Peugeot SA. shares, within the estimated limit of 6 million shares . If appropriate, this quantity may be slightly revised up depending on the subscription level for the employee share plan “Accelerate 2017”, announced by Groupe PSA on September 15, 2017, and on the subscription price for this offer that will be set on November 9, 20171 . The average share price will be determined, for one part, on the basis of the reference price of the share offering “Accelerated 2017”, and for the other part, on the basis of the arithmetic average of the weighted average trading prices of the shares during all the duration of the repurchase program. In any event, this average price may not exceed the maximum purchase price of 30 euros, as determined by the Combined Annual General Shareholders’ Meeting.


These shares will be used to cover, by way of sale of existing treasury shares, implementation of employee share offerings or implementation of free share allocation plans for employees and/or corporate officers.

 

 

1 Should it be the case, an additional press release would be published by Groupe PSA.

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