Adjusted Acquisition Finishes Euro 250 Million Stock Repurchase Plan
The Adecco Group, a leading provider of Human Resources solutions, has successfully concluded a EUR 250 million share buyback programme launched in November 2014. The programme, aimed at optimising the group's capital structure and enhancing shareholder value, saw the repurchase of 3,895,500 shares, equating to 2.18% of the share capital at the programme's launch.
In addition, shareholders of Adecco S.A. will resolve on the reduction of share capital through the cancellation of an additional 331,875 repurchased shares, bringing the total cancelled shares to 576,750. This decision was made in light of the Annual General Meeting 2015, where the remaining shares were not cancelled.
The average purchase price per share, excluding commissions, was CHF 70.22. Financial events such as the Q4 2015 results, the Annual General Meeting, and the Q1 2016 results are upcoming for Adecco.
Share buybacks typically have several purposes, including returning surplus cash to shareholders, improving key financial metrics like earnings per share (EPS) by reducing the number of shares outstanding, signalling confidence in the company’s prospects, and providing flexibility in managing the capital structure. These programmes usually involve repurchasing a certain number or value of shares from the open market or through a tender offer, and are conducted over a period of months to ensure orderly market transactions. The share capital reduction from the buyback leads to a higher proportionate ownership for remaining shareholders.
For more detailed information about the 2016 Adecco Group buyback, such as the volume of shares repurchased, the total amount spent, or the duration of the programme, you would need to refer to the Adecco Group’s 2016 annual report or their official press releases issued that year.
For further inquiries, you can contact the Adecco Group's Corporate Investor Relations at [email protected] or +41 (0) 44 878 89 89, or their Corporate Press Office at [email protected] or +41 (0) 44 878 87 87.
- The Adecco Group, which specializes in Human Resources solutions, has recently focused on temporary staffing and permanent placement, evidenced by their conclusion of a EUR 250 million share buyback programme in 2014.
- As part of their business strategy, the Adecco Group is also involved in outsourcing and talent development, with the intention of enhancing shareholder value.
- With the successful conclusion of their share buyback programme, the Adecco Group has initiated a process to cancel additional shares, reducing their share capital and increasing the proportionate ownership for remaining shareholders.
- For investors interested in financing opportunities, the Adecco Group offers regular updates on their financial status, including upcoming events such as Q4 2015 results, the Annual General Meeting, and Q1 2016 results.
