Elis: Modification of the description of the share buy-back program
As at September 13, 2017, Elis holds 55,500 Elis shares under the liquidity agreement entered into with Kepler Cheuvreux on April 13, 2015.
Following the implementation of the acquisition of Berendsen plc ("Berendsen") Elis owns 99.3% of Berendsen's issued share capital, the remaining 0.7%, i.e. 1,291,621 Berendsen shares, being held indirectly by Berendsen's Employee Benefit Trust.
Such Berendsen shares will be (i) allocated to Berendsen's stock option holders which could exercise them and which would then receive 0.403 existing Elis share and £5.40 in cash, or (ii) acquired by Elis pursuant to a Put and Call Agreement entered into between Elis, Berendsen and Estera Trust (Jersey) Limited as trustee of the Employee Benefit Trust with a consideration of 0.403 existing Elis share and £5.40 in cash for each Berendsen share acquired by Elis.
In order to be able, over the next six months, to allocate existing Elis shares to Berendsen's stock option holders and to allocate the Elis shares that will be remitted to the Employee Benefit Trust pursuant to the Put and Call Agreement, Elis' Management Board has decided :
- on the one hand, to reallocate up to 11,895 of the 55,500 existing treasury shares; and
- on the other hand, to repurchase, as part of its share buy-back program implemented on June 1st, 2017 in accordance with resolution 18th adopted by Elis' shareholders general meeting dated May 19, 2017, up to 508,628 Elis shares.
Elis will limit its daily acquisitions to 25% of the average daily trading volume of its shares on Euronext Paris. In accordance with resolution 18th adopted by Elis' shareholders general meeting dated May 19, 2017, the maximum purchase price per share is set at €30.
Nicolas Buron Tel: +33 (0) 1 75 49 98 30