Crédit Agricole S.A. announces the reduction of its share capital through the cancellation of treasury shares purchased under a share repurchase program
On 17 December 2024, the Board of Directors, acting on the authorization of the General Meeting of Shareholders on 22 May 2024, decided to reduce Crédit Agricole S.A.’s share capital by cancelling 15,128,677 treasury shares representing approximately 0.5% of the share capital.
Such capital reduction is effective as from 13 January 2025.
These shares were purchased under a share repurchase program implemented between 1 October 2024 and 6 November 2024 to offset the dilutive effect of the 2024 capital increase reserved for employees, for an aggregate amount of 208,465,605 euros, following a decision by the Board of Directors on 22 May 2024.
Following this cancellation of such shares, Crédit Agricole S.A.’s share capital amounts to 9,077,707,050 euros, comprising 3,025,902,350 shares, including 1,053,639 treasury shares held as at 10 January 2025 under the liquidity agreement managed by Kepler Cheuvreux.
Seanergy Announces Share Repurchase Plan
Seanergy Maritime Holdings Corp. announced that its Board of Directors has authorized a share repurchase plan (the “Plan”). Under the Plan, the Company may repurchase up to $17 million of its outstanding common shares, representing approximately 10% of the Company’s market capitalization as of August 10, 2021.
Stamatis Tsantanis, the Company’s Chairman & Chief Executive Officer, stated:
“We believe that the share price and the market value of Seanergy are currently significantly undervalued both in terms of the underlying asset or equity value of the Company, and also in terms of our solid ability to generate earnings in the current market environment. Considering this, we feel that a share buyback is the correct and well-timed capital allocation decision.
By using our strong balance sheet and our fleet’s robust cash-flow generating capacity to reduce the number of outstanding common shares, we can increase stockholder value, while maintaining sufficient liquidity reserves to take advantage of attractive market opportunities.”
The Company may repurchase common shares in open-market transactions pursuant to Rule 10b-18 of the Securities Exchange Act of 1934, as amended, or pursuant to a trading plan adopted in accordance with Rule 10b5‐1 of the Securities Exchange Act of 1934.
Any repurchases pursuant to the Plan will be made at management’s discretion at prices considered to be attractive and in the best interests of both the Company and its shareholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, applicable securities laws and the Company’s financial performance. The Plan may be suspended, terminated, or modified at any time for any reason, including market conditions, the cost of repurchasing shares, the availability of alternative investment opportunities, liquidity, and other factors deemed appropriate. These factors may also affect the timing and amount of share repurchases. The Plan does not obligate the Company to purchase any of its shares. The Board of Directors’ authorization of the Plan is effective immediately and expires on December 31, 2022.
Aon Announces Additional $5.0 Billion Share Repurchase Program, Increasing Total Authorization to $6.1 Billion
Aon plc (NYSE:AON) (“Aon”) announced that its Board of Directors has authorized a new $5.0 billion share repurchase program. The program is in addition to Aon’s existing share repurchase program previously authorized in February 2017, which had approximately $1.1 billion of remaining authorization, as of September 30, 2020. Aon intends to complete the existing program before repurchasing shares under the newly authorized program.
“We are committed to maintaining our strong position of financial stability and flexibility, while continuing to allocate capital to the highest ROIC opportunities,” said Greg Case, Chief Executive Officer. “Today’s announcement demonstrates our conviction in our colleagues’ ability to drive long-term growth of the firm, which we believe will be further accelerated by our pending combination with Willis Towers Watson and result in significant shareholder value creation.”
Including the newly authorized program, up to $6.1 billion of Aon’s Class A ordinary shares may be purchased from time to time on the open market, in block trades, in privately negotiated transactions, pursuant to Rule 10b5-1 plans or otherwise, depending on market conditions or other factors. The program does not obligate Aon to acquire any particular amount of shares and may be suspended or discontinued at any time.