Last August, Kering presented its share buyback program. Today, the second part of the buyback program has been launched.
The Kering Group, owner of the Balenciaga and Gucci brands, aims to buy back up to 2% of its share capital over a 24-month period. Today, the luxury group is setting up a new share purchase agreement with an Investment Services Provider (ISP).
The new contract corresponds to a second round of the program, with a maximum volume of 650,000 shares, i.e. approximately 0.5% of the share capital as of February 15, 2022. The maximum share purchase price has been set at EUR 1,000, as part of the single resolution adopted by the General Meeting of Shareholders in July 2021. The purchase period provided for in the agreement will begin on February 23, 2022 and will last until April 26, 2022 at the latest. Between August 25 and November 3, 2021, a first tranche of the program involved 650,000 shares.
Part of the shares repurchased under this second tranche will be cancelled, thereby offsetting the non-material dilutive impact of the planned employee share ownership plan. The other part of the shares repurchased will be allocated to compensation plans for Group employees in Kering shares.
Read also > GUCCI RAISES KERING’S Q4 RESULTS
Featured photos : © P. Sitller/Réa
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Passionnée depuis son plus jeune âge par l’art et la mode, Hélène s’oriente vers une école de stylisme, l’Atelier Chardon-Savard à Paris, avec une option Communication. Afin d’ajouter des cordes à son arc, elle décide de compléter sa formation par un MBA en Management du Luxe et Marketing Expérientiel à l’Institut Supérieur de Gestion à Paris dont elle sort diplômée en 2020. Elle a notamment écrit des articles lifestyle et beauté pour le magazine Do it in Paris et se spécialise en rédaction d’articles concernant le luxe, l’art et la mode au sein du magazine Luxus Plus.********** [EN] Passionate about art and fashion from a young age, Hélène went to a fashion design school, Atelier Chardon-Savard in Paris, with a Communication option. In order to add more strings to her bow, she decided to complete her education with an MBA in Luxury Management and Experiential Marketing at the Institut Supérieur de Gestion in Paris from which she graduated in 2020. She has written lifestyle and beauty articles for Do it in Paris magazine and specializes in writing articles about luxury, art and fashion for Luxus Plus magazine.