Edenred Announces Share Buyback Agreement

Edenred revealed it has initiated a share buyback agreement with an investment services provider as of April 19, 2024. The operation is part of a broader program announced earlier on March 8, authorized up to €300 million, intended to extend until March 2027. Initially, the company has committed €50 million to this mandate which is scheduled to conclude by May 7, 2024, with potential extensions leading up to March 31, 2027, deducting the amount already repurchased.

The current tranche of €50 million approximates the buyback of 1.1 million shares, equating to 0.43% of Edenred's share capital based on the closing prices as of April 18. The plan involves canceling the repurchased shares to enhance shareholder value. This strategic buyback aligns with the directives approved at the General Meeting on May 11, 2023, and adheres to EU regulatory frameworks concerning market abuses and share buybacks.