Amundi launches a share repurchase programme as part of performance share allocation plans
Paris on 7 October 2024
As part of performance share allocation plans and after having obtained the necessary regulatory authorisation, Amundi is announcing the launch of a share repurchase programme, via a mandate agreed with an Investment Services Provider (Kepler Cheuvreux)
In accordance with the authorisation granted by the Ordinary General Meeting of 24 May 2024 and delegated by the Board of Directors to the Chief Executive Officer, the share repurchase programme will have the following features:
1. Objective
Shares will be acquired for the purpose of covering the performance share allocation plans that have already been allocated and those in the future.
To avoid the dilution of existing shareholders, Amundi has decided not to issue new shares, but to purchase on the market the shares that will be delivered starting in 2025 (following a vesting period and subject to certain conditions of performance and presence1).
2. Number of shares and maximum amount
The total number of shares to be bought back on the market should not exceed 1 million1, representing around 0.5% of the share capital. The total amount allocated to this programme cannot exceed €80 million.
3. Features of the purchased shares
The Amundi shares in question are those admitted for trading on the Euronext regulated market in Paris under ISIN code FR0004125920.
4. Duration of the share repurchase programme
The authorisation of the Ordinary General Meeting of 24 May 2024 has been granted for a period of eighteen months, starting at the date of the AGM.
This programme is part of the share repurchase programme described in Chapter 1 (pages 42-43) of the 2021 Universal Registration Document filed by Amundi on 18 April 2024 with the French financial markets authority (AMF) under number D.24-0302, available on the Amundi website: https://legroupe.amundi.com/regulated-information. Changes to any of the features of this share repurchase programme during its implementation period shall be communicated according to the procedures provided for under Article 241-2 II of the AMF’s General Regulation.
It is also reminded that as at 30 September 2024, Amundi already holds 958,031 shares under the share management agreement signed with Kepler Cheuvreux and under previous share repurchase programmes.
About Amundi
Amundi, the leading European asset manager, ranking among the top 10 global players2, offers its 100 million clients - retail, institutional and corporate - a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €2.15 trillion of assets3.
With its six international investment hubs4, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.
Amundi clients benefit from the expertise and advice of 5,500 employees in 35 countries.
Amundi, a trusted partner, working every day in the interest of its clients and society.
This document does not constitute an offer or invitation to sell or purchase, or any solicitation of any offer to purchase or subscribe for, any securities of Amundi in the United States of America. Securities may not be offered, subscribed or sold in the United States of America absent registration under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements thereof. The securities of Amundi have not been and will not be registered under the U.S. Securities Act and Amundi does not intend to make a public offer of its securities in the United States of America. This document does not constitute an offer or invitation to sell or purchase, or any solicitation of any offer to purchase or subscribe for, any securities of Amundi in France and Amundi does not intend to make a public offer of its securities in France.
This document may contain forward-looking information concerning Amundi's financial position and results. These data do not represent "forecasts" within the meaning of Delegated Regulation (EU) 2019/980.
Such forward-looking information includes projections and financial estimates that are derived from scenarios based on a number of economic assumptions in a given competitive and regulatory environment, considerations relating to projects, objectives and expectations in connection with events and operations, transactions (including the proposed transaction between Amundi and Victory Capital), future products and services and on assumptions in terms of future performance and synergies. By their very nature, they are therefore subject to known and unknown risks and uncertainties, which could lead to the non-fulfillment of the forward-looking items mentioned, including, with regard to the proposed transaction between Amundi and Victory Capital, risks that the conditions to completion will not be satisfied and that the transaction will not be completed on schedule, or at all; risks relating to the expected benefits or impact of the proposed transaction on Victory Capital's and Amundi's respective businesses, including the ability to realize expected synergies; and other risks and factors relating to Victory's and Amundi's respective businesses contained in their respective public filings. Consequently, no assurance can be given that these projections and estimates will materialize, and Amundi's financial position and results could differ materially from those projected or implied in the forward-looking information contained in this press release. Amundi does not undertake any obligation to publicly update or revise any forward-looking statements made as of the date of this document. More detailed information on the risks that could affect Amundi's financial position and results can be found in the "Risk Factors" section of our Registration Document filed with the French Autorité des marchés financiers under number D.24-0302 on 18 April 2024.
Readers are advised to consider all of these risks and uncertainties before forming their own judgement.
The figures presented have been subject to a limited review from the statutory auditors and have been prepared in accordance with IFRS as adopted by the European Union and applicable at that date, and with prudential regulations in force to date. Unless otherwise stated, the sources of the rankings and market positions are internal. The information contained in this document, to the extent that it relates to entities other than Amundi, or is derived from external sources, has not been reviewed by any supervisory authority, nor more generally been independently verified, and no representation or undertaking is given as to, and no reliance should be placed on, the accuracy, truthfulness or completeness of any information or opinions contained in this document. Neither Amundi nor its representatives may be held liable for any decision taken or negligence or for any loss which may result from the use of this presentation or its contents or anything relating to them or to any document or information to which it may refer.
The sum of the values shown in the tables and analyses may differ slightly from the reported total due to rounding.
1 The number of shares granted will only be final upon delivery. 2Source: IPE “Top 500 Asset Managers” published in June 2024, based on assets under management as at 31/12/2023 3Amundi data at 30/06/2024 4Boston, Dublin, London, Milan, Paris and Tokyo
