LUXEMBOURG--(BUSINESS WIRE)--Regulatory News:
Eurofins Scientific SE (the “Company”) (EUFI.PA) (Paris:ERF) announces its intention to launch a new buy-back programme of its own shares (ISIN FR0014000MR3) for a maximum amount representing up to 2% of its share capital. This second programme follows the first programme that took place between 3 October 2022 and 8 August 2023. The new programme would begin on 25 October 2023 and last until 24 October 2025, subject to the renewal of the authorisation of such share repurchase programme by the Annual General Meeting (AGM) of the Company to be held in April 2024. The Company may at any time interrupt this programme in view of market conditions and/or the evolution of its investment strategy.
The shares to be purchased under this programme will be primarily used to hedge the Company’s Long-Term Incentive plans but may also be cancelled, used to partially finance acquisitions or for other purposes approved by the Board of Directors and within the authorization of the EGM.
The Company is mandating an independent provider of financial services to execute the first tranche of this programme for a maximum duration of three months starting on 25 October 2023 and ending on 24 January 2024 with a maximum volume of one million shares or 0.52% of its share capital. The exact quantum and purpose allocation of the bought-back shares will be communicated at the end of this first tranche.
Over the course of the first share buy-back programme that took place between 3 October 2022 and 8 August 2023, 1,121,493 shares were repurchased, representing 0.58% of the current share capital. As of 30 September 2023, 253,515 shares were used and delivered to the benefit of holders of the Company’s Long-Term Incentive instruments (upon exercise of Stock Options or vesting of Restricted Stock Units (RSUs)).
Notes to Editors:
For more information, please visit www.eurofins.com
About Eurofins – the global leader in bio-analysis
Eurofins is Testing for Life. The Eurofins network of companies believes that it is the global leader in food, environment, pharmaceutical and cosmetic product testing and in discovery pharmacology, forensics, advanced material sciences and agroscience contract research services. It is also one of the market leaders in certain testing and laboratory services for genomics, and in the support of clinical studies, as well as in biopharma contract development and manufacturing. It also has a rapidly developing presence in highly specialised and molecular clinical diagnostic testing and in-vitro diagnostic products.
With over 62,000 staff across a decentralised and entrepreneurial network of ca. 900 laboratories in 61 countries, Eurofins offers a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of a wide range of products, as well as providing innovative clinical diagnostic testing services and in-vitro diagnostic products.
Eurofins companies’ broad range of services are important for the health and safety of people and our planet. The ongoing investment to become fully digital and maintain the best network of state-of-the-art laboratories and equipment supports our objective to provide our customers with high-quality services, innovative solutions and accurate results in the best possible turnaround time (TAT). Eurofins companies are well positioned to support clients’ increasingly stringent quality and safety standards and the increasing demands of regulatory authorities as well as the evolving requirements of healthcare practitioners around the world.
Eurofins has grown very strongly since its inception and its strategy is to continue expanding its technology portfolio and its geographic reach. Through R&D and acquisitions, the Group draws on the latest developments in the field of biotechnology and analytical chemistry to offer its clients unique analytical solutions.
Shares in Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0014000MR3, Reuters EUFI.PA, Bloomberg ERF FP).
Until it has been lawfully made public widely by Eurofins through approved distribution channels, this document contains inside information for the purpose of Regulation (EU) 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse, as amended.
This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgment of Eurofins Scientific’s management as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the information available to the Company’s management as of the date of publication, but no guarantees can be made as to their completeness or validity.