Remy Cointreau to put end to company's share buyback program; more than 1.4 million shares purchased under program
May 23, 2012
– The Managing Director of Rémy Cointreau SA (Paris:RCO), acting on the authority of the Board of Directors, decided on 23 May 2012 to put an end to the company’s share buyback programme, implementation of which started on 6 December 2011, in accordance with the authorisation of the general shareholders’ meeting of 26 July 2011.
Pursuant to this share buyback programme Rémy Cointreau has purchased 1,428,794 shares between 6 December 2011 and 23 May 2012, representing 2.88% of its share capital, for an average price of 67.29 euros.
In the light of future prospects and given its strategic objectives, Rémy Cointreau has allocated all the purchased shares to the funding of potential external growth opportunities.
This decision has no effect on the performance of the liquidity contract (contrat de liquidité) which has been entered into by Rémy Cointreau.
On June 2012, the Board of Directors will fix the terms of a resolution relating to a new share buyback programme to be proposed to the annual general meeting of shareholders of 26 July 2012.
Details about the transactions completed pursuant to this share buyback programme are available on Rémy Cointreau’s website (www.remy-cointreau.com – see the “Financial Information” section.)
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