(AOF) – Safran has entered into an agreement with an investment services provider for the implementation of a new tranche of repurchase of its own shares in order to allow, on the one hand, the delivery of shares in the event of conversion of its convertible bonds maturing in 2028 and, on the other hand, for the allocation or sale of shares to employees or corporate officers of Safran or group companies.
Under the terms of this agreement, Safran will purchase ordinary shares for a maximum amount of 450 million euros from January 16, 2024 and no later than March 1, 2024.
This operation will be carried out in accordance with the share buyback authorization given on May 25, 2023 by the general meeting of shareholders which set the maximum buyback price at 175 euros per share.
As a reminder, Safran announced, on July 27, 2023, that the company would repurchase up to approximately 4 million of its own shares (approximately 0.95% of its capital) in order to cover the potential dilution linked to its maturing convertible bonds. in 2028. To this end, Safran has already carried out, between September and November 2023, the repurchase of around 2 million shares.
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