L’Air Liquide (Paris: Al) recently signed a share repurchase agreement with an investment services provider in line with its Share Buyback Program, as approved by the Combined Shareholders’ Meeting of the Company on May 3rd, 2023.
Agreement Details
The agreement, finalized on February 21st, 2024, entails a volume of 905,000 Air Liquide shares (equivalent to 0.17% of the share capital of the Company as of December 31st, 2023). The maximum unit price is capped within the limits established by the Combined Shareholders’ Meeting on May 3rd, 2023, and the Board of Directors on September 28th, 2023 (not exceeding 250 euros per share).
Purchase Information
The initial purchase price was set at 185.86 euros per share, mirroring the closing share price on the stock market the day before the agreement was signed. This resulted in an initial total purchase price of 168,203,300 euros. Any necessary adjustments to this total purchase price will be disclosed in a dedicated press release at the conclusion of the share purchase period specified in the agreement.
Share Utilization
Per the agreement, bought-back shares will be partially canceled by the Company and partially allocated towards the execution of performance share plans.
For further information on the Share Buyback Programme, refer to the 2022 Universal Registration Document (Chapter 6 – Board of Directors’ report on the resolutions presented to the Combined General Meeting) on the Company’s website.
Air Liquide: Leading the Way in Gases, Technologies, and Services
Air Liquide stands as a global leader in the realm of gases, technologies, and services for both industry and healthcare. Operating in 72 countries and boasting a workforce of 67,800 employees, the Group caters to over 4 million customers and patients. The importance of oxygen, nitrogen, and hydrogen as fundamental small molecules that sustain life, matter, and energy is central to Air Liquide’s domain of expertise, tying back to its inception in 1902.
Forward-Thinking Strategy: ADVANCE 2025
At the core of Air Liquide’s operations lies the commitment to taking action in the present while simultaneously laying the groundwork for the future. Through its strategic plan, ADVANCE 2025, the company sets its sights on achieving global performance by seamlessly blending financial and extra-financial aspects. Leveraging its presence in emerging markets, Air Liquide capitalizes on its resilient and robust business model, innovation prowess, and technological proficiency. The Group actively develops solutions that contribute to climate resilience and energy transition, notably in the realm of hydrogen, while also spearheading advancements in healthcare, digitalization, and high technologies.
Impressive Financial Performance
With a revenue surpassing 27.5 billion euros in 2023, Air Liquide’s financial strength is a testament to its enduring success. Listed on the Euronext Paris stock exchange (compartment A) and included in esteemed indices such as CAC 40, CAC 40 ESG, EURO STOXX 50, FTSE4Good, and DJSI Europe, the company stands as a benchmark of excellence in the industry.