BNP PARIBAS : BNP Paribas launches a share buyback program of 900
million euros
Paris, 29 October 2021
BNP Paribas launches a share buyback
program of 900 million euros
On the strength of its confirmed growth
potential and solid balance sheet and performances, BNP Paribas
announces today the launch of a share buyback program of BNP
Paribas S.A. ordinary shares for a maximum total amount of €900
million.
BNP Paribas has received the approval from the
European Central Bank and a contract was concluded with an
investment services provider acting independently, entrusted by an
irrevocable instruction to purchase the shares.
The purchase period will start on November, 1st
2021 and will end no later than February, 8th 2022. The shares
purchased under the program will be cancelled.
BNP Paribas will provide weekly updates on the
program’s status via a press release on BNP Paribas’ website, and
via an effective and full dissemination in accordance with
applicable legal
provisions:https://invest.bnpparibas/en/search/reports/documents/regulated-information
The share buyback program will be carried out in
accordance with the provisions set out in the EU Regulation
n°596/2014 of the European Parliament and of the Council of April,
16th 2014 on market abuse and its implementing provisions, and
within the limits of the general authorisation granted to BNP
Paribas to purchase shares on the market pursuant to the 5th
resolution adopted by the General Meeting of BNP Paribas on May
18th, 2021.
The description of the share buyback program is
available in appendix and on BNP Paribas’s
website:https://invest.bnpparibas/en/search/reports/documents/regulated-information
APPENDIX : DESCRIPTION OF THE SHARE
BUYBACK PROGRAM
The present description complies with the
provisions of article 241-2, I of the General Regulation of the
French Financial Markets Authority (Autorité des Marchés
Financiers).
Date of the general meeting which
approved the resolution concerning the share buyback
program.
May 18th, 2021
Objectives pursued by BNP
PARIBAS
In accordance with the fifth resolution approved
by the combined General Meeting on May 18th, 2021, the shares may
be purchased for the purposes of:
- their cancellation in situations
identified by the Extraordinary General Meeting
- honoring the obligations linked to
the issuance of equity instruments, stock option plans, bonus share
awards, the allotment or selling of shares to employees as part of
a profit sharing scheme, employee shareholding or Corporate Savings
Plans, or any other type of share grant for employees and corporate
officers of BNP Paribas and of the companies controlled exclusively
by BNP Paribas within the meaning of article L.233-16 of the French
Commercial Code;
- for the purposes of holding and
subsequently remitting them in exchange or as payment for external
growth transactions, mergers, spin-offs or asset
contributions;
- under a liquidity agreement in
accordance with Decision No. 2018-01 of 2 July 2018 of the French
Financial Markets Authority (Autorité des Marchés Financiers –
AMF);
- carrying out investment services
for which BNP Paribas has been approved or to hedge them.
Maximum amount allocated to the share
buyback program, maximum number of shares to be
purchased
The General Meeting has authorized the Board of
Directors to purchase a number of shares representing up to 10% of
the shares comprising the share capital of BNP Paribas, or, for
illustrative purposes, as of July 19th 2018, the date on which the
share capital was last recorded, a maximum of 124,979,856 shares.
Based on a maximum repurchase price of EUR 73 per share, set by the
fifth resolution approved by the General Meeting dated May 18th,
2021, this number of shares represents a theoretical maximum
purchase amount of EUR 9,123,529,488. Such limit is likely to
change in case of transactions affecting the share capital.
The shares which may be purchased under the
present description are BNP Paribas’ shares listed on Euronext
Paris – A compartment, ISIN Code FR0000131104.
Considering that BNP Paribas owned as of May
13th, 2021 directly 721,971 of its own shares, i.e. 0.06% of its
share capital, the number of shares that was likely to be purchased
at the date of the General Meeting dated May 18, 2021 is
124,257,885 shares representing 9.94% of the share capital, i.e.,
on the basis of a maximum purchase price of EUR 73 per share as set
by the General Meeting, a theoretical maximum purchase amount of
EUR 9,070,825,605.
Duration of the share buyback
program
The authorization granted by the General Meeting
dated May 18th, 2021, as described in the fifth resolution, is
valid for an eighteen months period with effect from the date of
the said General Meeting, i.e. up to November 18th, 2022.
The Board of directors will ensure that these
share purchases will be carried out in accordance with the
prudential requirements as defined by the regulation and the
European Central Bank.
About BNP Paribas BNP Paribas
is a leading bank in Europe with an international reach. It
operates in 68 countries and has more than 193,000 employees,
including nearly 148,000 in Europe. The Group has key positions in
its three main activities: Domestic Markets and International
Financial Services (whose retail-banking networks and financial
services are covered by Retail Banking & Services) and
Corporate & Institutional Banking, which serves two client
franchises: corporate clients and institutional investors. The
Group helps all its clients (individuals, community associations,
entrepreneurs, SMEs, corporates and institutional clients) to
realise their projects through solutions spanning financing,
investment, savings and protection insurance. In Europe, the Group
has four domestic markets (Belgium, France, Italy and Luxembourg)
and BNP Paribas Personal Finance is the European leader in consumer
lending. BNP Paribas is rolling out its integrated retail-banking
model in Mediterranean countries, in Turkey, in Eastern Europe and
a large network in the western part of the United States. In its
Corporate & Institutional Banking and International Financial
Services activities, BNP Paribas also enjoys top positions in
Europe, a strong presence in the Americas as well as a solid and
fast-growing business in Asia-Pacific.
Press
contactsSandrine Romano
– sandrine.romano@bnpparibas.com
– +33 (0)6 71 18 23 05Marie Clouard –
marie.clouard@bnpparibas.com – +33 (0)6 98 37 45 70
- BNP Paribas launches a share buyback program of 900 million
euros
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