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Implementation of the share buyback program approved by the Shareholders' Meeting held on June 26, 2020
Nanterre (France), March 17, 2021
IMPLEMENTATION OF THE SHARE BUYBACK PROGRAM
APPROVED BY THE SHAREHOLDERS’ MEETING HELD ON JUNE 26, 2020
Faurecia (Euronext: EO - FR0000121147) announces that it has signed with an investment services provider a mandate to purchase Faurecia shares as part of its share buyback program authorized by the Shareholders’ Meeting held on June 26, 2020 under the 17th resolution.
As recently announced, Faurecia is launching this year a non-dilutive employee share ownership plan "Faur'ESO" (Faurecia Employee Share Ownership) to strengthen employee engagement and involve employees closely in the Group's development and performance. Deployed in 15 countries and targeting 90% of the Group's employees, this plan involves a maximum of 2% of the Company's share capital. The main characteristics of Faur’ESO are detailed in the press release dated March 16, 2021.
The buyback of the shares is carried out in the context of Faur'ESO and, more generally, to allocate shares to employees (including grant of performance shares). Up to the number of new shares to be issued in the context of Faur’ESO, the repurchased shares will be cancelled to neutralize the dilution; the remaining shares will be held for future allocations of shares to employees.
This mandate, signed on March 16, 2021, allows the repurchase of a maximum volume of 2,760,716 Faurecia shares representing a maximum of 2.0% of the share capital.
Buybacks under this mandate can be carried out from March 17 (included) to April 29 (included) 2021.
The description of the share buyback program (details of which are on page 335 of the 2019 Faurecia Universal Registration Document filed with the Autorité des marchés financiers on April 30, 2020) and the text of the 17th resolution referred to above are available on the website of the Company, www.faurecia.com, respectively under the heading "Investors / Regulated Information" and “Investors / Shareholders / Shareholders meetings” sections.
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About Faurecia
Founded in 1997, Faurecia has grown to become a major player in the global automotive industry. With 266 industrial sites, 39 R&D centers and 114,000 employees in 35 countries, Faurecia is a global leader in its four areas of business: Seating, Interiors, Clarion Electronics and Clean Mobility. Faurecia has focused its technology strategy on providing solutions for the “Cockpit of the Future” and “Sustainable Mobility”. In 2020, the Group posted sales of €14.7 billion. Faurecia is listed on the Euronext Paris stock exchange. For more information, please visit www.faurecia.com
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