Share buyback program
Paris, October 5, 2018
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.
The repurchase tranche initially signed and communicated on June 29, 2018 with an investment service provider is extended from October 31 to November 22, 2018. According to this agreement, Safran will acquire up to Euro 400 million worth of shares on the expiry date at the latest. 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 118 per share set by the May 25, 2018 annual shareholders' meeting.
Safran is an international high-technology group, operating in the aircraft propulsion and equipment, space and defense markets. Safran has a global presence, with more than 58,000 employees and sales of 16.5 billion euros in 2017. 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 1.4 billion euros in 2017. Safran is listed on the Euronext Paris stock exchange, and is part of the CAC 40 and Euro Stoxx 50 indices.
In February 2018, Safran took control of Zodiac Aerospace, significantly expanding its aircraft equipment activities. Including Zodiac Aerospace, acquired by Safran in February 2018, the Group has over 91,000 employees and would have around €21 billion in adjusted revenues (pro forma 2016).