PARIS--(BUSINESS WIRE)--Regulatory News:
The Combined General Meeting of 6 June 2019 renewed the authorization granted to the Board of Directors, for a period of 18 months, to purchase, or to have purchased, Company’s shares.
The program was established in accordance with article 241–1 et seq. of the AMF Delegated Regulation No. 2016/1052, supplementing European Regulation (EU) No. 596/2014 with regulatory technical standards for the conditions applicable to buyback programs, as well as market practices approved by the AMF. The table below shows the terms and conditions of the new program for the Company to buy back its own shares.
|Securities concerned||Korian Ordinary shares (Code ISIN : FR0010386334)|
|Allotment by objective of Company’s shares||At 11 June 2019, the Company holds 35,279 shares allocated to the implementation of the liquidity agreement entered into with ODDO BHF on 29 June 2019.|
|Maximum amount of share capital for which the purchase has been authorized by the General Meeting||
The number of shares of the Company that may be purchased is limited
a) the number of shares that the Company may purchase during the entire duration of the share buyback program shall not exceed 10% of the shares comprising the Company’s share capital at any time, which percentage shall be applied to the amount of the share capital adjusted to take into account any capital transactions carried out after this General Meeting, (i.e. for information purposes, 8,198,556 shares at 31 March 2019). Moreover, if (i) the shares of the Company are purchased to promote liquidity in accordance with the conditions defined by the French Financial Markets Authority’s General Regulations, the number of shares taken into account to calculate the above 10% limit shall be equal to the number of shares purchased, less the number of sales resold during the term of the authorization and (ii) the number of shares purchased to be retained for subsequent delivery in payment or exchange in connection with a merger, demerger or contribution of assets shall not exceed 5% of its share capital, and
b) the number of shares that the Company holds at any given time shall not exceed 10% of the shares comprising the Company’s share capital at the relevant date.
|Maximum purchase price||€50 (excluding costs) (or the equivalent amount on the same date in any other currency or monetary unit established by reference to several currencies).|
|Maximum amount of funds available for the purposes of this program||€409 927 800 (or the equivalent amount on the same date in any other currency or monetary unit established by reference to several currencies).|
|Buyback terms and conditions||Shares may be acquired, sold or transferred at any time, excluding periods when a public offering has been launched on the Company, within the limits set by law and the regulations currently in force or that may become effective in the future, on one or more occasions, by any means and on any market, including trading on regulated markets, a multilateral trading system, a systematic internaliser, or OTC markets, including block purchases or sales (with no limit on how much of the buyback program can be carried out in this manner), by public offerings, or through the use of option mechanisms or other financial futures or forward contracts, or by delivering shares in connection with an issue of securities that confer equity rights in the Company, either directly or indirectly via an investment service provider, and at the times when the Board of Directors, or the person acting on a delegation of authority from the Board of Directors so decides.|
|Duration of program||18 months starting from the date of the Combined General Meeting.|
Next publication: 31 July 2019 – Interim revenue and results (after the market close)
Korian, an expert in care and support services for the elderly, manages Europe’s leading network of long-term care nursing homes, specialised clinics, assisted living and shared senior housing, homecare and hospital-at-home services.
For more information, please visit the website: www.korian.com
Korian has been listed on Euronext Paris (Compartment A) since November 2006 and is included in the following indices: SBF 120, CAC Health Care, CAC Mid 60, CAC Mid & Small and MSCI Global Small Cap
Euronext Ticker: KORI - ISIN: FR0010386334 – Reuters: KORI.PA – Bloomberg: KORI.FP