Arkema Launches a €300 Million Share Buyback Program

COLOMBES, France--(BUSINESS WIRE)--Regulatory News:

On 25 February 2021, Arkema (Paris:AKE) announced its intention to implement a share buyback program for a total amount of €300 million following the closing of the divestment of the PMMA business.

In this context, Arkema signed a share purchase agreement with an investment services provider on 20 May 2021.

This agreement sets a maximum amount of €300 million over a period from 21 May 2021 to 30 November 2021. The price of the shares purchased under this agreement shall not exceed the €135 per share, limit set by the Shareholders’ meeting of 20 May 2021.

The shares purchased under this agreement will be allocated to the implementation of performance share plans or employee shareholding operations up to a limit of €30 million and will be cancelled above that limit.

The Shareholders’ meeting of 20 May 2021 authorized the Board of Directors to implement the share buyback program described in the 2020 Universal Registration Document published by Arkema on 26 March 2021 (Section 6.2.4) and available on the Company’s website https://www.arkema.com/global/en/investor-relations/regulated-information/.

Building on its unique set of expertise in materials science, Arkema offers a portfolio of first-class technologies to address ever-growing demand for new and sustainable materials. With the ambition to become in 2024 a pure player in Specialty Materials, the Group is structured into 3 complementary, resilient and highly innovative segments dedicated to Specialty Materials -Adhesive solutions, Advanced Materials, and Coating Solutions- accounting for some 82% of Group sales, and a well-positioned and competitive Intermediates segment. Arkema offers cutting-edge technological solutions to meet the challenges of, among other things, new energies, access to water, recycling, urbanization and mobility, and fosters a permanent dialogue with all its stakeholders. The Group reported sales of around €8 billion in 2020, and operates in some 55 countries with 20,600 employees worldwide. www.arkema.com