ACCOR (EPA:AC) - Description of Share buyback program - April 2021
Transparency directive : regulatory news
29/04/2021 16:00
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Regulated information
April 29, 2021
Accor S.A.
A French Société Anonyme whose share capital amounts to EUR784,148,184
Registered office: 82, rue Henri Farman, 92130 Issy-les-Moulineaux
Listed in the Nanterre Companies Register - No. 602 036 444
(the "Company")
DESCRIPTION OF OWN SHARE BUYBACK PROGRAMME APPROVED BY THE GENERAL MEETING OF
THE COMPANY ON APRIL 29, 2021
(NINTH RESOLUTION)
In accordance with Articles 241-1 et seq. of the French Financial Markets
Authority (AMF) General Regulation, the purpose of this description is to set
out the objectives, terms and conditions of the programme for the buyback by
the Company of its own shares. This programme was submitted to the Company's
General Meeting on April 29, 2021 for approval.
I. Date of the General Meeting authorising the share buyback programme
The share buyback programme was submitted to the shareholders for approval
during the General Meeting held on April 29, 2021 (the "General Meeting"), in
its ninth resolution.
II. Number of shares and the share of capital owned by the Company
As of April 29, 2021, the Company did not directly own any shares in the
Company.
III. Allotment by objective of the shares owned by the Company
Not applicable
IV. Objectives of the share buyback programme
The objectives of this programme are as follows:
* subsequent cancellation of ordinary shares acquired as part of a capital
reduction decided or authorized pursuant to the tenth resolution of the
General Meeting held on April 29, 2021, or any other resolution having the
same purpose that may be passed at another General Meeting of the Company,
* implementation of any employee share plan, in particular free share grant
plans made under Articles L. 225-197-1 et seq. and L. 22-10-59 et seq. of the
French Commercial Code, employee savings (or similar) plans under Articles L.
3332-1 et seq. of the French Labor Code, and stock option plans under
Articles L. 225-177 et seq. and L. 22-10-56 of the French Commercial Code,
* to allocate shares on the conversion, redemption, exchange or exercise of
securities carrying rights to ordinary shares in the Company,
* to hold and subsequently transfer, either for payment with respect to
external growth transactions, or in exchange with respect to merger, demerger
or asset contribution, subject to a limit of 5% of the share capital,
* to make a market in the Company's shares under a liquidity contract that
complies with decision No. 2018-01 of July 2, 2018, of the French securities
regulator (AMF) and all other related provisions,
* to perform any market transaction or practice permitted, now or hereafter,
under the laws or regulations in force or by the AMF, in which case the
Company will issue a press release notifying shareholders of said use.
V. Maximum share of capital available for acquisition, maximum number of shares
and characteristics of the shares available for acquisition under the share
buyback programme
The General Meeting has set at 10% of the share capital the maximum number of
shares that may be acquired, at any time, and at EUR70 the maximum purchase
price per share (excluding acquisition costs) under this approved resolution.
VI. Duration of the share buyback programme
This approval has been granted for a period of eighteen months as from April
29, 2021, i.e. until October 29, 2022, and has terminated any prior
authorization with the same purpose.