Kering: Explanation of the share repurchase program approved by the Joint General Meeting of Shareholders on April 28, 2022 and delegation to the Board of Directors on April 28, 2022.

press release


Explanation of shared repurchase program
ApprovedE By assemblyEfor exampleEnoEShareholder mixed RAL 28 April 2022 And putE Under implementation of DELEGasion To Board REisland 28 April 2022

This description has been prepared in accordance with the provisions of Sections 241-1 and 241-2 of the General Regulations of Autorité des Marchés Financiers and the provisions of the Delegation Regulations (EU) 2016/1052 of March 8, 2016.

  1. DDate of Shareholders’ Meeting Approving Share Repurchase Program

Kering’s approval to buy back shares was approved by the Ordinary General Meeting of Shareholders (15th Resolution) on April 28, 2022. The delegation to the board of directors was approved at a meeting on 28 April 2022.

  1. noNumber of securities held directly or indirectly and share of capital

As of April 28, 2022, the number of shares directly or indirectly held by Kering is
1,274,211 or 1.02% of equity capital.

  1. OPurpose of share buyback program

The purpose of the share buyback program approved at the shareholders’ meeting on April 28, 2022 is as follows:

  • Ensuring liquidity or revitalizing the secondary market for equities through independent investment service providers under liquidity contracts in accordance with the Code of Ethics recognized by AMF financial markets.Where
  • Acquired to fulfill obligations related to stock option plans, existing free share allotment schemes, share allotment to increase profit sharing of company employees, and all other share allocations to employees or executive officers. Use all or part of the shares you have made. Implementation of savings plans for companies and / or companies outside France, granted to the company and / or employees and executive officers of the company. By law, transfer or transfer of shares within the framework of French or foreign legal and regulatory provisions.Where
  • Allows the realization of subsequent investment or financing by delivery (exchange, payment, or otherwise) of shares within the framework of the business of external growth, merger, split, or contribution.Where
  • Deliver shares at the time of exercising the rights associated with the securities that are redeemed, converted, exchanged, presented with vouchers, or otherwise entitled to the allocation of shares in the company.Where
  • We will continue to cancel all or part of the shares acquired under the conditions and restrictions set forth in Articles L.22-10-62 of the French Commercial Code.
  1. PMaximum capital art, maximum number, characteristics, maximum purchase price, and maximum amount of shares allocated to the program

As of April 28, 2022, Kering’s equity capital was € 498,771,664 and was split into 124,692,916 shares.

At the General Meeting of Shareholders on April 28, 2022, the maximum number of shares of capital that Kelling could hold was set at 10% of the number of shares that make up equity capital at any time. In other words, the maximum number of shares to date is 12,469,291.Considering the number of Kering stocks
As of April 28, 2022, Kering may acquire 8.98% of its shares.

The maximum purchase price set at the shareholders’ meeting is € 1,000 per share, excluding acquisition costs, and the total maximum amount allocated to the share repurchase program is
€ 12,469,291,000.

  1. DUrea dAnd permissionu share repurchase program

The approval period for the share repurchase was set to 18 months from the general meeting of shareholders on April 28, 2022 to October 29, 2023.

  1. BIran dUse with Beforee-authentication redemption of stocks

Kelling will receive up to 2.0% of its equity capital on August 25, 2021 over the next 24 months as part of the previous share repurchase approval (single resolution) approved at the shareholders’ meeting on July 6, 2021. Announced intention to buy back. With a maximum purchase price of 1,000 euros.
The first tranche of this stock repurchase program ended on November 3, 2021. From August 25th to November 3rd, 2021, 650,000 shares were repurchased on average € 643.70 per share, or a portion of the capital. It will be 0.52%. The 325,000 shares of this first tranche were canceled on 10 December 2021 by a decision of the Board of Directors on 9 December 2021.

The second tranche of this stock repurchase program ended on April 6, 2022. From February 23 to April 6, 2022, 650,000 shares were repurchased on average € 578.71 per share, or part of the capital. It will be 0.52%. The Board of Directors on April 28, 2022 decided that the 325,000 shares thus repurchased would be canceled by the end of 2022.

  1. VSLiquidity contract

Kering has set up a liquidity agreement in force on February 13, 2019 for the following period:
12 months, renewed annually by implicit agreement. This liquidity agreement is governed by the regulations associated with the liquidity agreement and the Code of Ethics developed by the Association Française des Marchés Financiers (AMAFI) approved by Autorité des Marchés Financiers.
The amendment to this agreement came into effect on 1 July 2021 and provided for a € 25 million reduction in the resources recorded in the liquidity account. As a result, as of July 1, 2021, € 25 million was displayed in the liquidity account.

  1. PDerivatives open position

As of April 28, 2022, Kering had no call options.

*** ***

In accordance with Article 241-2 of the General Rules of Autorité des Marchés Financiers, any material changes to the information contained in Sections 3, 4, and 5 above during the implementation of the Repurchase Program will occur. Promptly call the public’s attention in accordance with the procedures stipulated in Article 221-3.

About Kering

Kering, a global luxury group, collects and grows a set of iconic fashion, leather goods and jewelry houses: Gucci, Saint Laurent, Bottega VenetaBalenciaga, Alexander McQueen, BrioniBoucheron, PomellatoSleep, QeelinAnd Kering Eyewear.. Kering puts creativity at the center of its strategy, allowing it to push the boundaries of creative expression while shaping sustainable and responsible luxury. This is the meaning of our signature. Empowerment Imagination. In 2021, Kering had more than 42,000 employees and sales of 17.6. Billions of euros..

contact address

Emily Gal Gadot +33 (0) 1 45 64 61 20 [email protected]
Marie de Monte Raynaud +33 (0) 1 45 64 62 53 [email protected]

Analyst / Investor
Claire Bullet +33 (0) 1 45 64 61 49 [email protected]
Laura Levi +33 (0) 1 45 64 60 45 [email protected]

  • Press Release Description of Stock Repurchase Program 28042022

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