Accor SA (FR:AC) has released an update.
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Accor SA has announced a share buyback program approved by shareholders on May 31, 2024, with the intention to buy back up to 10% of its share capital, equivalent to approximately 24.2 million shares, at a maximum price of 70 euros per share. The program, which is allocated a maximum of 1.76 billion euros, is set to run for 18 months, aiming to facilitate various corporate objectives including capital reduction, employee shareholding plans, and market-making. As of the program’s approval date, Accor held a minimal 0.00722% of its share capital, earmarked for supporting the liquidity of its shares on the market.
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