Acquisition of shares
Paris, March 6, 2017 - Valeo has requested the assistance of an Investment Services Provider in order to achieve certain objectives of its Share Buy-back Program, as authorized by the Combined Annual General Shareholders' Meeting of May 26, 2016.
According to the terms of the Contract signed on March 6, 2017, the Investment Services Provider will sell to Valeo, who undertakes to acquire them no later than May 19th, 2017, a certain quantity of Valeo shares within the limit of 75 million euros. The average price per share will be determined based on the mean volume-weighted market price observed during the entire duration of the agreement. The unit price may not in any case exceed the maximum purchase price of Euro 70 per share set by the Combined Annual General Shareholders' Meeting of May 26, 2016. All these shares will be allocated to cover the implementation of any stock option purchase plan, the allotment of shares to employees in respect of their participation in the proceeds of the company's expansion and the implantation of any company savings plan.
| VALEO
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| Valeo is an automotive supplier, partner to all automakers worldwide. As a technology company, Valeo proposes innovative products and systems that contribute to the reduction of CO2 emissions and to the development of intuitive driving. In 2016, the Group generated sales of 16.5 billion euros and invested over 11% of its original equipment sales in Research and Development. Valeo has 155 plants, 20 research centers, 38 development centers and 15 distribution platforms, and employs 91,800 people in 32 countries worldwide. Valeo is listed on the Paris stock exchange and is a member of the CAC 40 index. |
