Press Release
Amundi launches a share buyback programme as part of the Long Term Incentive plans
Paris, 20 November 2018
Having obtained the necessary regulatory authorisation, Amundi announces the launch of a share buyback programme, via a mandate agreed with an Investment Services Provider (Kepler Cheuvreux)
In accordance with the authorisation granted by the Ordinary General Meeting of 15 May 2018 and delegated by the Board of Directors to the Chief Executive Officer, the share buyback programme will have the following features:
- Purpose
Shares will be acquired for the purpose of covering the performance share allocation plans that have been set up for the Group's key managers.
In order to avoid dilution for existing shareholders, Amundi has decided not to issue any new shares, but to buy back the shares that will be delivered in 2019, 2020 and 2021 (following a vesting period and subject to performance and presence conditions[1]).
- Maximum number of shares
The number of shares bought back is not expected to exceed two million1, representing 1% of the share capital (which is equivalent to approximately €100 million, based on the current share price).
- Maximum price and amount
The maximum price at which these shares can be bought back will be €100 per share.
The total amount allocated to this programme may not exceed €200 million.
- Features of the purchased shares
The Amundi shares in question are those admitted for trading on the Euronext regulated market in Paris under ISIN code FR0004125920.
- Duration of the share buyback programme
This programme will run from 21 November 2018 until 15 November 2019.
As a reminder, Amundi already holds 199,600 shares as of 31 October 2018 under a liquidity contract agreed with Kepler Cheuvreux.
About Amundi
Amundi is Europe's largest asset manager by assets under management and ranks in the top 10[2] globally. It manages more than 1.470 trillion[3] euros of assets across six main investment hubs[4]. Amundi offers its clients in Europe, Asia-Pacific, the Middle East and the Americas a wealth of market expertise and a full range of capabilities across the active, passive and real assets investment universes. Clients also have access to a complete set of services and tools. Headquartered in Paris, and listed since November 2015, Amundi is the 1st asset manager in Europe by market capitalization[5].
Thanks to its unique research capabilities and the skills of close to 4,500 team members and market experts based in 37 countries, Amundi provides retail, institutional and corporate clients with innovative investment strategies and solutions tailored to their needs, targeted outcomes and risk profiles.
Amundi. Confidence must be earned.
Visit www.amundi.com for more information or to find an Amundi office near you.
Press contact:
Natacha Andermahr
Tél. +33 1 76 37 86 05
natacha.andermahr-sharp@amundi.com
Investor Relations:
Anthony Mellor
Tél. +33 1 76 32 17 16
anthony.mellor@amundi.com
Thomas Lapeyre
Tél. +33 1 76 33 70 54
thomas.lapeyre@amundi.com
[1] The number of attributed shares will be definitive only at the time of their delivery.
[2] Source IPE "Top 400 asset managers" published in June 2018 and based on AUM as of end December 2017
[3] Amundi figures as of September 30, 2018
[4] Investment hubs: Boston, Dublin, London, Milan, Paris and Tokyo
[5] Based on market capitalization as of September 30, 2018
