Euronext completes share buyback, awaiting shareholder approval for cancellation to enhance investor confidence and optimize capital.
Euronext completes share buyback, awaiting shareholder approval for cancellation to enhance investor confidence and optimize capital.
Euronext share buyback approval follows the conclusion of its repurchase program, initially announced on November 7, 2024. This initiative, aimed at enhancing shareholder value, saw the company acquire a total of 2,692,979 shares between November 11, 2024, and March 10, 2025. This figure represents approximately 2.58% of Euronext’s total share capital.
The average price paid for these shares was €111.40. A designated financial intermediary executed the program, ensuring compliance with all relevant regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.
The General Meeting of Shareholders sanctioned this move on May 15, 2024, reflecting a strategic decision to optimize the company’s capital structure and return value to its shareholders. Looking ahead, Euronext plans to seek authorization during its upcoming Annual General Meeting, scheduled for May 15, 2025.
The company will ask shareholders to empower the Managing Board to formally approve the cancellation of the repurchased shares. Should this proposal receive approval, the Managing Board will proceed with the necessary administrative steps, including filing the resolution with the trade register.
Additionally, Euronext will publish this decision in a national newspaper, ensuring transparency and compliance with legal obligations, with the announcement remaining available for public viewing for two months after its release. This share repurchase program is part of Euronext’s broader strategy to reinforce investor confidence and demonstrate its commitment to delivering sustainable returns.
By reducing the number of shares in circulation, Euronext aims to improve earnings per share and enhance overall shareholder value, positioning itself for continued growth in the competitive European financial landscape. As the company moves forward, it will focus on maintaining robust governance and prioritizing shareholder interests.
In Conclusion, Euronext’s share buyback approval reinforces its commitment to shareholder value and financial stability. The company remains focused on strategic growth and governance.
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