Technip Energies, a leading Engineering & Technology company for the Energy Transition, announces the launch of a share buy-back program of up to 29,850,000 euros to be executed until December 31, 2022 following the publication of this press release. The share buy-back program will be carried out in accordance with the authorisation of the Boards of Directors and the provisions of the Market Abuse Regulation (EU) 596/2014, Commission Delegated Regulation (EU) 2016/1052 and Rule 10b5-1(c) of the U.S. Securities Exchange Act of 1934 (as amended).
The Company intends to carry out the buy-back program, and hold the shares bought back as treasury stock, for the purpose of meeting the Company’s obligations under equity incentive plans.
As of March 22, 2022, the Company holds approximately 3 million treasury shares, representing approximately 1.7 percent of its issued share capital.
The Company will appoint one broker to execute the share buy-back program in accordance with all applicable regulations. The broker will make their decisions relating to the purchase of Company shares independently, including with respect to the timing of any purchases, and all purchases effected will be in compliance with daily limits on prices and volumes.
The maximum number of shares that could be acquired under the program for 29,850,000 euros would be 2,700,000 shares, which represents approximately 1.5 percent of the Company’s issued share capital. Purchases of shares will be made on the regulated market of Euronext Paris.
The price paid for any share purchased pursuant to the share buy-back program shall be subject to a maximum of the greater of (i) the price of the last independent trade and (ii) the highest current independent purchase bid on the regulated market of Euronext Paris, and all other terms and conditions that may be agreed with the broker.
The actual timing, number and value of Company shares repurchased under the share buy-back program will depend on a number of factors, including market conditions, general business conditions and applicable legal requirements. The Company is not obligated to carry out the share buy-back program, and, if commenced, the share buy- back program may be suspended and discontinued at any time, for any reason and without previous notice, in accordance with applicable laws and regulations.
The share buy-back program implements the authorization granted by the Company’s sole shareholder prior to the listing of the Company on February 15, 2021 to repurchase shares in accordance with the authorization of the Board of Directors.
The Company will announce details of any share purchases effected pursuant to the share buy-back program, as required by applicable laws and regulations. The costs that the Company may incur in connection with the purchase of the shares pursuant to the share buy-back program will depend on the price and the terms on which actual purchases are made.
