On May 24, 2017 Safran (Euronext Paris: SAF) announced its intention to
implement a Euro 2.3 billion ordinary share buyback program to run over the
two years following completion of the tender offer for Zodiac Aerospace
shares. To date, Safran already contributed 14.5 million shares to its program
for a total of 1.6 billion euros.
Today, Safran has entered into an agreement with an investment service provider
for a follow-on repurchase tranche. According to this agreement, Safran will
acquire up to Euro 150 million worth of ordinary shares no later than June 28,
2019. The average price per share will be determined based on the mean
volume-weighted market price observed during the entire duration of the
agreement. The unit price may not exceed the maximum of Euro 155 per share set
by the May 23, 2019 shareholders' meeting.
Safran is an international high-technology group, operating in the aircraft
propulsion and equipment, space and defense markets. Safrhas a global presence,
with more than 92,000 employees and sales of 21 billion euros in 2018. Working
alone or in partnership, Safran holds world or European leadership positions in
its core markets. Safran undertakes Research & Development programs to meet
fast-changing market requirements, with total R&D expenditures of around 1.5
billion euros in 2018.
Safran is listed on the Euronext Paris stock exchange, and is part of the
CAC 40 and Euro Stoxx 50 indices.
For more information: www.safran-group.com / Follow @Safran on Twitter