Kering: Completion of the stock repurchase program
| PRESS RELEASE |
| December 19, 2022 |
COMPLETION OF THE STOCK REPURCHASE PROGRAM
The Stock Repurchase Program announced on August 25, 2021, with the aim of repurchasing up to 2.0% of Kering's share capital over a 24-month period, was completed on December 15, 2022.
Between August 25, 2021 and December 15, 2022, 2.6 million shares were repurchased.
Of these total, 1,050,000 shares have already been cancelled.
It will be proposed at the next meeting of the Board of Directors on February 14, 2023 to cancel 650,000 additional shares, thus bringing the total number of shares cancelled to 1.7 million.
The table below shows a summary of the program's various tranches:
| Tranche 1 | Tranche 2 | Tranche 3 | Tranche 4 | |
| Repurchase period | From August 25 to November 3, 2021 | From February 23 to April 6, 2022 | From May 18 to July 19, 2022 | From October 24 to December 15, 2022 |
| Number of shares repurchased | 650,000 shares, representing around 0.5% of the share capital | 650,000 shares, representing around 0.5% of the share capital | 650,000 shares, representing around 0.5% of the share capital | 650,000 shares, representing around 0.5% of the share capital |
| Average price of the repurchased shares | €643.70 per share | €578.71 per share | €485.53 per share | €511.71 per share |
| Use of the repurchased shares | 325,000 shares were canceled on December 10, 2021, pursuant to a decision by the Board of Directors at its meeting on December 9, 2021 | 325,000 shares were canceled on December 12, 2022, pursuant to a decision by the Board of Directors at its meeting on April 28, 2022 | 400,000 shares were canceled on December 12, 2022, pursuant to a decision by the Board of Directors at its meeting on July 27, 2022 | It will be proposed at the next meeting of the Board of Directors on February 14, 2023 to cancel 650,000 shares |
About Kering
A global Luxury group, Kering manages the development of a series of renowned Houses in Fashion, Leather Goods, Jewelry: Gucci, Saint Laurent, Bottega Veneta, Balenciaga, Alexander McQueen, Brioni, Boucheron, Pomellato, DoDo, Qeelin, as well as Kering Eyewear. By placing creativity at the heart of its strategy, Kering enables its Houses to set new limits in terms of their creative expression while crafting tomorrow’s Luxury in a sustainable and responsible way. We capture these beliefs in our signature: “Empowering Imagination”.
In 2021, Kering had over 42,000 employees and revenue of €17.6 billion.
| Contacts | ||
| Press | ||
| Emilie Gargatte | +33 (0)1 45 64 61 20 | |
| Marie de Montreynaud | +33 (0)1 45 64 62 53 | |
| Analysts/investors | ||
| Claire Roblet | +33 (0)1 45 64 61 49 | |
| Julien Brosillon | +33 (0)1 45 64 62 30 |
Attachment
