Description of the share buyback programme

Authorised by the combined General Meeting dated 14 May 2024

This description is drawn up in accordance with the provisions of Articles 241-1 and 241-2 I of the General Regulation of the French Financial Markets Authority (Autorité des marchés financiers).

 

1. Date of the General Meeting called to authorise the share buyback programme

The authorisation for the Company to buy its own shares was approved at the combined General Shareholders' Meeting dated 14 May 2024.

2. Breakdown by objective of the securities held

As at 10 May 2024, Ayvens held 979,822 of its own shares, representing 0.1% of its share capital. The allocation of the shares is as follows:

Cancellation: 0

Allocation to employees and executive officers: 839,734

Exercise of rights attached to securities: 0

Liquidity agreement: 140,088

External growth: 0

Implement market practices: 0

3. Purposes of the share buyback programme

Ayvens has received authorisations to purchase its own shares, to:

a.            cancel them, pursuant to the 18^th resolution of the General Shareholders' Meeting held on 24 May 2023;

b.            allocate, cover and honour any free shares or employee savings plans and any type of allocation for the benefit of employees or corporate officers of the Company or affiliated companies under the terms and conditions stipulated or permitted by French or foreign law, particularly in the context of participation in the results of the expansion of the Company, the granting of free shares, any employee shareholding plans as well as completing any related transactions to cover the aforementioned employee shareholding plans;

c.            provide shares upon the exercise of rights attached to securities giving access to the share capital of the Company;

d.            market making activities under a liquidity contract, signed with an investment services provider, in compliance with the market practices permitted by the AMF (“l’Autorité des marchés financiers”);

e.            retain and later tender as part of the Group's external growth transactions;

f.             implement any market practice that may become recognised by law or by the AMF.

4. Maximum amount allocated to the share buyback programme, maximum number and characteristics of the securities, maximum purchase price

The resolution approved at the General Meeting provides that Ayvens can purchase its ordinary shares for an amount of up to 5% of the share capital at the date of making these purchases, it being specified that the maximum number of shares held after these purchases may not at any time exceed 10% of share capital.

As at 10 May 2023, without taking into account the shares already held, a theoretical maximum number of 40,848,021 shares could be purchased. Given the number of securities already held at this date and the possibility to hold an amount of shares representing up to 10% of the share capital, the Company could purchase up to 39,868,199 shares.

The maximum purchase price was set at EUR 28.60 per share. The authorisation limits the amount of funds allocated to the programme to EUR 600 million.

 

5. Duration of share buyback programme

The combined General Meeting dated 14 May 2024 set the duration of the authorisation for the Company to buy and sell its own shares at 18 months from the date of the General Meeting.

6. Fulfilment of prudential requirements

The Board of Directors will ensure that the execution of these buybacks will be carried out in accordance with prudential requirements as defined by the regulation and the European Central Bank.

 

 

About Ayvens
Ayvens is the leading global sustainable mobility player committed to making life flow better. We’ve been improving mobility for decades, providing full-service leasing, flexible subscription services, fleet management and multi-mobility solutions to large international corporates, SMEs, professionals and private individuals.		With more than 14,500 employees across 42 countries, 3.4 million vehicles and the world’s largest multi-brand EV fleet, we’re leveraging our unique position to lead the way to net zero and spearhead the digital transformation of the mobility sector. The company is listed on Compartment A of Euronext Paris (ISIN: FR0013258662; Ticker: ALD). Societe Generale Group is Ayvens majority shareholder. Find out more at ayvens.com

Press contact
Elise Boorée Communications Department Tel: +33 (0)6 25 01 24 16 elise.booree@ayvens.com

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• 2024 05 14 Share buyback programme description final