Implementation of the share buy-back program
PRESS RELEASE
Paris, March 11 2024
Implementation of the share buy-back program
Valeo has requested the assistance of an investment services provider in order to achieve certain objectives of its share buy-back program, as authorized by the General Shareholders’ Meeting of May 24, 2023.
According to the terms of the contract signed on March 11, 2024, it is agreed between the parties that the investment services provider will sell to Valeo, who undertakes to acquire them no later than May 13, 2024, a certain quantity of Valeo shares within the limit of 25 million euros. The average price per share will be determined based on the mean volume-weighted market price observed during the entire duration of the contract. The unit price may not in any case exceed the maximum purchase price of 70 euros per share set by the General Shareholders’ Meeting of May 24, 2023.
All these shares will be allocated to cover the implementation of free and performance share plans, the allotment of shares to employees as part of their involvement in the performance and growth of the Company or the implementation of any company employee savings plan and more generally any allocation of shares within the Group.
About Valeo
As a technology company and partner to all automakers and new mobility players, Valeo is innovating to make mobility cleaner, safer and smarter. Valeo enjoys technological and industrial leadership in electrification, driving assistance systems, reinvention of the interior experience and lighting everywhere. These four areas, vital to the transformation of mobility, are the Group's growth drivers.
Valeo in figures: 22 billion euros in sales in 2023 | 112,700 employees at December 31, 2023 | 29 countries, 175 plants, 66 research and development centers and 20 distribution platforms.
Valeo is listed on the Paris Stock Exchange.
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