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Acquisition of shares
Paris, February 27, 2017
On December 12, 2016, Safran (Euronext Paris: SAF) announced its intention to proceed with the repurchase of its own shares 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.
Having completed the repurchase of the initial tranche signed on December 8, 2016 with an investment services provider, Safran signed à follow-on repurchase tranche on February 27, 2017 with a different investment services provider. According to this agreement, Safran will acquire up to Euro 200 million worth of shares no later than June 14, 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, Defence and Security (ongoing divestiture of Security business). Operating worldwide, the Group has 66,500 employees (Security included) and generated sales of 15.8 billion euros in 2016 (excluding Security). 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 1.7 billion euros in 2016 (excluding Security expenditures). 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