Share buyback
On May 6, 2018, the Board of Directors of the Company “Folli Follie Commercial Manufacturing and Technical Société Anonyme” with the distinctive title “FF GROUP” resolved to launch the share buyback program, pursuant to the resolution of the Annual General Meeting of June 30, 2017, which approved the share buyback program, in accordance with article 16 of the CL 2190/1920, as it has been amended.
As a result, the Company is intending to buy back shares during the next 24 months from the date of the aforementioned Annual General Meeting, i.e. until the 30th day of June 2019, a maximum of 6.636,413 (1/10) Shares of the Company. Specifically, at the time of the above Resolution of the Company’s Annual General Meeting, may purchase a maximum of 6.636,413 Shares of the Company.
Pursuant to the program of the Annual General Meeting of June 30, 2017, the minimum purchase price is five (5) Euros per share and the maximum purchase price is fifty (50) Euros per share.
It is noted to the investment community that, in accordance with legislation, the implementation of an approved share buyback program is not mandatory. Accordingly, the Company may at its discretion not implement the program or purchase fewer shares than the maximum approved by the Annual General meeting. The implementation of the program will depend on several factors including without limitation, the existence of other investment opportunities and the availability of funds.
Finally, the Company is willing to comply in relation to the carrying out of the purchase of the above shares, as provided in Article 5 of the EU Regulation 2273/2003 on the price and volume of purchases and in Article 6 § 1 of the Regulation.