PARIS--(BUSINESS WIRE)--Regulatory News:
At its meeting on 24 July 2018, the Board of Directors of Rémy Cointreau (Paris:RCO) decided, in accordance with the 21st and 22nd resolutions approved by the Shareholders’ Meeting on 24 July 2018, to authorize the Group’s Chief Executive Officer to implement a share buyback program. In accordance with this authorization, a mandate was granted to an investment services provider to purchase shares of Rémy Cointreau SA.
The purpose of the buyback program is to enable the following transactions to be performed, in decreasing order of priority: 1. To cancel shares as part of a capital reduction ; 2. To cover obligations in respect to marketable securities giving access to capital ; 3. To cover obligations in respect to the allocation of free share programs to employees and/or Directors and Officers of the Company and/or companies related to it.
The investment services provider may purchase, on the dates it deems appropriate, up to a maximum of 1 million shares under pricing conditions authorized by the Shareholders’ Meeting on 24 July 2018 in the 21st resolution.
This buyback program will end at the latest on 30 April 2019.
Rémy Cointreau reserves the right to stop the buyback program.
This decision does not affect the performance of the liquidity contract signed by the company.
The description of the share buy-back program (detailed in the chapter 7.3.4, pages 221-224 of the Registration Document 2017/18, filed with the AMF under number D.18-0622) and the text of the above-mentioned 21st and 22nd resolutions are available on the Group’s website www.remy-cointreau.com - section « Finance ».