Michelin : Implementation of a partial share buyback management agreement
April 26 2019 - 11:45AM
PRESS
RELEASE
Clermont-Ferrand, April 26, 2019
COMPAGNIE GÉNÉRALE
DES ÉTABLISSEMENTS MICHELIN
Implementation of
a partial share buyback management agreement
COMPAGNIE GÉNÉRALE DES
ÉTABLISSEMENTS MICHELIN has called on the assistance of an
Investment Services Provider for the implementation of its Share
Buyback Program as authorized by the Annual Shareholders Meeting of
May 18, 2018.
Under the terms of the Agreement
signed on April 26, 2019, the parties agree that the Investment
Services Provider will sell a certain number of COMPAGNIE GÉNÉRALE
DES ÉTABLISSEMENTS MICHELIN shares, representing a maximum of
€70,000,000, to COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN,
which undertakes to buy them, between April 29, 2019 and November
21, 2019, at an average price to be determined objectively and
independently by the market over the duration of the Agreement,
less a guaranteed discount. The price may not exceed the maximum
purchase price approved by the Annual Shareholders Meeting of May
18, 2018 or, if the shareholders adopt a new share buyback
resolution on May, 17 2019 Annual Shareholders Meeting.
All of the shares bought back under the Agreement
will be cancelled.
Relations Investisseurs
Édouard de Peufeilhoux
+33 (0) 4 73 32 74 47
+33 (0) 6 89 71 93 73 (mobile)
edouard.de-peufeilhoux@michelin.com
Humbert de Feydeau
+33 (0) 4 73 32 68 39
+33 (0) 6 82 22 39 78 (mobile)
humbert.de-feydeau@michelin.com
|
Relations Presse
Corinne Meutey
+33 (0) 1 78 76 45 27
+33 (0) 6 08 00 13 85 (mobile)
corinne.meutey@michelin.com
Actionnaires individuels
Isabelle Maizaud-Aucouturier
+33 (0) 4 73 98 59 27
isabelle.maizaud-aucouturier@michelin.com
Clémence Rodriguez
+33 (0) 4 73 98 59 25
clemence.daturi-rodriguez@michelin.com
|
DISCLAIMER
This press release is not an offer to purchase or a
solicitation to recommend the purchase of Michelin shares. To
obtain more detailed information on Michelin, please consult the
documents filed in France with Autorité des Marchés Financiers,
which are also available from the
https://www.michelin.com/en/ website.
This press release may contain a number of forward-looking
statements. Although the Company believes that these statements are
based on reasonable assumptions as at the time of publishing this
document, they are by nature subject to risks and contingencies
liable to translate into a difference between actual data and the
forecasts made or inferred by these statements.
20190426_Michelin_Share
buyback
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Michelin via Globenewswire
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