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Share buyback

Finance

Paris, September 22, 2023

On July 27, 2023, Safran (Euronext Paris: SAF) announced that it would repurchase up to approximately 4 million of its own shares (approximately 0.95% of its capital) with a view to hedging the potential dilution related to its convertible bonds maturing in 2028.

On September 22, 2023, Safran has entered into an agreement with an investment services provider for the implementation of a first tranche of repurchase of its own shares (ISIN FR0000073272) with a view to meeting its obligations arising from its convertible bonds maturing in 2028. Under the terms of this agreement, Safran will repurchase shares for a maximum amount of Euro 350 million from September 25, 2023 and no later than November 17, 2023.

This operation will be carried out in accordance with the share buyback authorization granted on May 25, 2023 by the shareholders’ General Meeting that has set the maximum purchase price at Euro 175 per share.

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Safran is an international high-technology group, operating in the aviation (propulsion, equipment and interiors), defense and space markets. Its core purpose is to contribute to a safer, more sustainable world, where air transport is more environmentally friendly, comfortable and accessible. Safran has a global presence, with 83 000 employees and sales of 19.0 billion euros in 2022, and holds, alone or in partnership, world or regional leadership positions in its core markets. Safran undertakes research and development programs to maintain the environmental priorities of its R&T and innovation roadmap. 

Safran is listed on the Euronext Paris stock exchange and is part of the CAC 40 and Euro Stoxx 50 indices.

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