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Euronext, the leading pan-European market infrastructure, today announced a share repurchase programme (the ‘Programme’) for a maximum amount of €200 million.
This Programme is enabled by Euronext’s strong cash generation capabilities and demonstrates Euronext’s rigorous capital allocation strategy1. The Programme will not impact the deleveraging path of Euronext, nor its rating. The Programme will also be compatible with preserving the Group financial flexibility to capture market opportunities and its existing dividend policy of a pay-out of 50% of reported net income.
The Programme will be implemented as follows:
- Purpose: the purpose of the Programme is to reduce the share capital of Euronext. All shares repurchased as part of the Programme will be cancelled;
- Maximum amount allocated: €200 million;
- Duration: the targeted period for the share repurchase programme is from 31 July 2023 for a maximum duration of a year, to be implemented on Euronext Paris;
- Framework: Euronext aims to repurchase approximately 3.0% of its ordinary shares, as authorised by the General Meeting on 17 May 2023 to a limit of 10.0%.
Euronext has entered into a non-discretionary arrangement with a financial intermediary to conduct the repurchase.
The Programme will be executed in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052, and based on the authority granted by the annual general meeting of shareholders on 17 May 2023. Euronext will provide regular updates on the progress of the programme, in line with applicable regulations, at:
euronext.com/en/investor-relations/capital-and-shareholding/share-buyback-program
