Acquisition of shares
Paris, December 12, 2016
Safran (Euronext Paris: SAF) will proceed with the repurchase of its own shares within the framework of the authorizations granted by the May 19, 2016 annual shareholders' meeting and up to a maximum aggregate value of Euro 450 million with the objective of neutralizing the dilutive effect of equity-related instruments on its balance sheet.
To this end, Safran signed on December 8, 2016 a share purchase agreement with an investment services provider for an initial repurchase tranche. According to this agreement, Safran will acquire up to Euro 250 million worth of shares no later than April 7, 2017. 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 80 per share set by the May 19, 2016 annual shareholders' meeting.
Safran is a leading international high-technology group with three core businesses: Aerospace (propulsion and equipment), Defence and Security. Operating worldwide, the Group has 70,000 employees and generated sales of 17.4 billion euros in 2015. Working independently or in partnership, Safran holds world or European leadership positions in its core markets. The Group invests heavily in Research & Development to meet the requirements of changing markets, including expenditures of more than 2 billion euros in 2015. Safran is listed on Euronext Paris and is part of the CAC40 index, as well as the Euro Stoxx 50 European index.
For more information : www.safran-group.com / Follow @Safran on Twitter.