Altice NV: Altice announces safe harbour share repurchase programme
October 16 2017 - 2:00AM
October 16, 2017
Altice announces
safe harbour share repurchase programme
Altice N.V. (Euronext: ATC, ATCB,
"Altice") announces that its existing share repurchase programme
announced on August 28, 2017 is suspended and that a new programme
to repurchase shares also in closed periods will commence today and
will continue until November 2, 2017 (inclusive).
As part of its buyback programme,
Altice intends to purchase Altice common shares A and Altice common
shares B on Euronext Amsterdam for an aggregate market value
equivalent to up to €1 billion (taking into account the shares
already purchased under the existing share repurchase
programme).
Altice will use the common shares
A and common shares B repurchased in connection with this programme
respectively to meet obligations arising from share option plans
and to reduce its share capital.
On June 28, 2017, the general
meeting of shareholders authorised Altice to acquire shares in its
own capital for a period of 18 months up to a maximum of 10% of the
issued share capital at a price between the nominal value of the
shares and 110% of the opening price at Euronext Amsterdam at the
date of the acquisition. The share repurchase programme will be
executed within the limitations of this authority granted by the
general meeting of shareholders and of the authority granted at
future general meetings of shareholders.
This share repurchase programme
will be conducted within the parameters prescribed by the Market
Abuse Regulation 596/2014 and the safe harbour parameters
prescribed by the Commission Delegated Regulation 2016/1052 for
buyback programmes. The share repurchases will be executed by an
intermediary to allow for share repurchases also during closed
periods. Transactions effected under this programme will be
reported on in weekly press releases and published on Altice's
website.
On November 3, 2017, Altice will
resume its discretionary share repurchase activity.
Contacts
Head of Investor Relations
Nick Brown: +41 79 720 1503 / nick.brown@altice.net
Head of Communications
Arthur Dreyfuss: +41 79 946 4931 / arthur.dreyfuss@altice.net
Regulated information
This press release contains inside information
within the meaning of Article 7(1) of the EU Market Abuse
Regulation.
Share repurchase programme
161017
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Altice NV via Globenewswire
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