PARIS (dpa-AFX) - Air France KLM (AFRAF.PK) issued details of share buyback program authorized by the shareholders meeting of June 7, 2023. Under the program, maximum amount of the share capital that may be acquired by the company is 5%. Maximum purchase price per share will be 4 euros, excluding fees or, in the event of the implementation of a reverse share split, 40 euros, excluding fees. It has a duration of 18 months.
The company said the share buyback allows an investment firm to coordinate stock liquidity within the framework of a liquidity contract in compliance with the Compliance Charter recognized by the AMF. It also allows to allocate shares upon exercise of the rights to shares attached to securities issued by the company or by companies in which it holds, either directly or indirectly, more than half of the share capital and that grant the right to the allocation of company shares via conversion, exercise, repayment, exchange, presentation of a warrant or any other means.
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