Wendel cancels 2% of its share capital as part of its share buyback program

 

Wendel's Executive Board has decided to cancel 960,837 shares held in treasury, or 2% of its share capital, pursuant to the authorization given by the Supervisory Board.

This cancellation follows the repurchase of these shares by the Group, as part of its share buyback program. Since the start of the year, Wendel has repurchased 345,446 of its own shares in the market.

 

The cancellation is accretive for Wendel shareholders in that it allows them to benefit from the steep discount at which the share is trading with respect to net asset value.

 

As of July 25, 2016, Wendel held 1,204,596 of its own shares in treasury (excluding liquidity contract). After the share cancellation, the number of shares comprising Wendel's share capital will be 47,081,029.

 

Calendar

 

9/8/2016

H1 2016 earnings / Publication of NAV (pre-market release)

By conference call

12/1/2016

2016 Investor Day / Publication of NAV and trading update (pre-market release)

In London

3/23/2017

2016 full-year earnings / Publication of NAV (pre-market release)

In Paris

5/18/2017

Shareholders' Meeting / Publication of NAV and trading update (before Shareholders' Meeting)

In Paris

9/7/2017

H1 2017 earnings / Publication of NAV (pre-market release)

By conference call

11/30/2017

2017 Investor Day / Publication of NAV and trading update (pre-market release)

About Wendel

Wendel is one of Europe's leading listed investment firms. The Group invests internationally, in companies that are leaders in their field, such as Bureau Veritas, Saint-Gobain, Cromology, Stahl, IHS, Constantia Flexibles and AlliedBarton Security Services. Wendel plays an active role as industry shareholder in these companies. It implements long-term development strategies, which involve boosting growth and margins of companies so as to enhance their leading market positions. Through Oranje-Nassau Développement, which brings together opportunities for investment in growth, diversification and innovation, Wendel is also a shareholder of exceet in Germany, Mecatherm in France, Nippon Oil Pump in Japan, Saham Group and SGI Africa in Africa and CSP Technologies in the United States.

Wendel is listed on Eurolist by Euronext Paris.

Standard & Poor's ratings: Long-term: Long-term: BBB-, stable outlook - Short-term: A-3 since July 7, 2014. Wendel is the Founding Sponsor of Centre Pompidou-Metz. In recognition of its long-term patronage of the arts, Wendel received the distinction of "Grand Mécène de la Culture" in 2012.


For more information: www.wendelgroup.com

Follow us on Twitter @WendelGroup and@_FLemoine_

 

 


Press contacts                                                                                                    Analyst and investor contacts

Christine Anglade-Pirzadeh: +33 (0)1 42 85 63 24                                                                                     Olivier Allot: +33 (0)1 42 85 63 73

c.anglade@wendelgroup.com                                                                                                                                     o.allot@wendelgroup.com

                                                                                                                     

Caroline Decaux: +33 (0)1 42 85 91 27                                                                                                   Elisa Muntean: +33 (0)1 42 85 63 67

c.decaux@wendelgroup.com                                                                                                                                       e.muntean@wendelgroup.com

 


Wendel cancels 2% of its share capital


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: WENDEL via Globenewswire
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