In the context of the AXA Group’s 2016 employee share offering (Shareplan 2016) (1) and in order to eliminate any associated dilutive effect, AXA has executed today a share repurchase agreement with an investment services provider, whereby AXA will buyback shares for a maximum amount of € 461,900,000, in accordance with the terms of its share repurchase program (2) with a view to cancelling them.
The price per share to be paid by AXA shall be determined on the basis of the arithmetic mean of the daily volume-weighted average prices calculated over a period of 20 trading days commencing on September 16, 2016 and corresponding to the fixing period for the shares to be issued under Shareplan 2016. Share buyback transactions by the investment services provider in relation to this agreement will not extend beyond December 1, 2016.
(1) The AXA Group’s 2016 employee share offering (Shareplan 2016) has been authorized by the General Shareholders’ Meeting of April 27, 2016. Please refer to the press release issued on August 26, 2016 for further information on Shareplan 2016.
(2) AXA share repurchase program has been authorized by the General Shareholders’ Meeting of April 27 2016.