Boussard and Gavaudan Holding Ltd Proposes Share Repurchase Program

Friday, 21 Jun 2013 12:00pm EDT 

Boussard and Gavaudan Holding Ltd announced details of the share repurchase program that will be proposed to its Annual General Meeting on July 11, 2013. The maximum number of shares authorised to be purchased shall be such number as shall represent 14.99% of each class of shares in issue (excluding shares held in treasury), rounded to the nearest whole number. The maximum price which may be paid for a share shall be the higher of (a) an amount equal to 105% of the average of the closing quotation for a share of the relevant class taken from and calculated by reference to (i) in the case of the Sterling shares in the Company, the London Stock Exchange plc's Daily Official List or (ii) in the case of the Euro shares in the Company, Eurolist by NYSE Euronext, as the case may be, for the five business days immediately preceding the day on which the shares are purchased and (b) the higher of the price of the last independent trade and highest current independent bid on the relevant market when the purchase is carried out provided that the Company shall not be authorised to acquire shares at a price above the estimated prevailing net asset value of the relevant class of share on the date of purchase. The minimum price which may be paid for a share shall be EUR 0.01 or GBP 0.01. The program shall expire on the earlier of September 30, 2014 or the date of the next annual general meeting of the Company