Transaction in Own Shares • Mar 6, 2019
Transaction in Own Shares
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Press release MARCH 6, 2019
Accor announced on February 27th, 2018 that it intended to implement, over a two-year period, a share buyback program that would cover up to 10% of its share capital, i.e. 29 million shares amounting to 1,350 million euros based on the market capitalization as of end of February 2018. A first tranche of 350 million euros was completed in 2018, with the acquisition of 8.3 million shares. A second tranche was launched on December 19th , 2018 for an amount of 500 million euros. The partial execution of the second tranche enabled Accor to purchase 6.6 million shares for a total amount of 250 million euros.
The Group has signed today a plain share buyback agreement with the same investment services provider for a follow-on tranche to acquire Accor shares for an amount of 250 million euros, to the maximum of daily-authorized volumes. The purchase price per share shall not exceed the maximum price of 70 euros set by the Combined Ordinary and Extraordinary Shareholders' Meeting of April 20th, 2018.
The Group has decided to maintain the suspension of its liquidity agreement for the duration of the program.
NB: Exact amounts for the transactions carried out in the frame of the share buyback program are available on group.accor.com
Accor is a world-leading augmented hospitality group offering unique and meaningful experiences in more than 4,800 hotels, resorts, and residences across 100 countries. With an unrivalled portfolio of brands from luxury to economy, Accor has been providing hospitality savoir-faire for more than 50 years.
Beyond accommodations, Accor enables new ways to live, work, and play with Food & Beverage, nightlife, wellbeing, and co-working brands. To drive business performance, Accor's portfolio of business accelerators amplify hospitality distribution, operations, and experience. Guests have access to one of the world's most attractive hotel loyalty programs— Le Club AccorHotels.
Accor is deeply committed to sustainable value creation, and plays an active role in giving back to planet and community. Planet 21 – Acting Here endeavours to act for positive hospitality, while Accor Solidarity, the endowment fund, empowers disadvantaged groups through professional training and access to employment.
Accor SA is publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACRFY) in the United States. For more information visit accor.com. Or become a fan and follow us on Twitter and Facebook.
Carina Alfonso Martin Vice President Media Relations T. +33 (0)1 45 38 84 84 [email protected] Line Crieloue Senior PR Manager T. +33 (0)1 45 38 18 11 [email protected]
Sébastien Valentin Chief Communication Officer T. +33 (0)1 45 38 86 25 [email protected] Pierre-Loup Etienne Investor relations T. +33 (0)1 45 38 47 76 [email protected]
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