Syensqo Launches Share Buyback Program
Syensqo launches Share Buyback Program
Brussels, Belgium – June 25, 2024 - 08:30 CEST
In accordance with article 7:215 of the Belgian Code of Companies and Associations, Syensqo SA (“Syensqo” or the “Company”) announces the launch of a share buyback program, effective as of 25 June 2024 (the “Share Buyback Program”).
The repurchase of Syensqo shares under the Share Buyback Program intends to cover current and future obligations under Syensqo's current Long Term Incentive Plans for its employees.
Under this program, Syensqo may acquire a maximum of 983,000 Syensqo shares. The Share Buyback Program commences on 25 June 2024 and will run until 20 December 2024 at the latest. The Share Buyback Program may be suspended or discontinued at any time and any shares acquired under the Share Buyback Program will be held as treasury shares.
The Share Buyback Program will be carried out under the terms and conditions of the authorization granted by the Extraordinary Shareholders’ Meeting of the Company on 8 December 2023 and will be implemented and executed by an independent financial intermediary under the terms of a discretionary mandate agreement.
The timing of the share buybacks will depend on a variety of factors, including market conditions. Syensqo will provide regular updates on the progress of its share purchases, in accordance with applicable legislation.
Ilham Kadri, CEO, commented: “Aligned with our relentless focus on value creation to our stakeholders, I am pleased to announce our share buyback program. This program is a sign of confidence in Syensqo’s growth strategy and also demonstrates the importance Syensqo places on employee engagement as well as the retention of key talent.”
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Safe harbor
This press release may contain forward-looking information. Forward-looking statements describe expectations, plans, strategies, goals, future events or intentions. The achievement of forward-looking statements contained in this press release is subject to risks and uncertainties relating to a number of factors, including general economic factors, interest rate and foreign currency exchange rate fluctuations, changing market conditions, product competition, the nature of product development, impact of acquisitions and divestitures, restructurings, products withdrawals, regulatory approval processes, all-in scenario of R&I projects and other unusual items. Consequently, actual results or future events may differ materially from those expressed or implied by such forward-looking statements. Should known or unknown risks or uncertainties materialize, or should our assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly update or revise any forward-looking statements.
About Syensqo
Syensqo is a science company developing groundbreaking solutions that enhance the way we live, work, travel and play. Inspired by the scientific councils which Ernest Solvay initiated in 1911, we bring great minds together to push the limits of science and innovation for the benefit of our customers, with a diverse, global team of more than 13,000 associates.
Our solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices and health care applications. Our innovation power enables us to deliver on the ambition of a circular economy and explore breakthrough technologies that advance humanity.
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