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Legrand SA Announces Share Repurchase Program


Friday, 24 May 2013 02:34pm EDT 

Legrand SA announced that its Board of Directors of Legrand met on May 24, 2013 and agreed to set up a share buyback program as authorized by shareholders at the Ordinary and Extraordinary General Meeting held the same day. On May 21, 2013, the Company‚Äôs capital stock consisted of 265,102,529 shares. At the same date, the Company held 83,027 of its own shares. The limit on the portion of capital stock that is authorized for purchase under the Share Buyback Program is 10% of the total number of shares representing the capital stock at the date of the Combined Ordinary and Extraordinary General Meeting of Shareholders held on May 24, 2013, with the proviso that, when shares are purchased to ensure the market liquidity of Legrand SA stock under the conditions described above, the number of shares used to calculate this 10% limit will be the number of shares purchased less the number of shares resold over the duration of the Share Buyback Program. The maximum price that the Company may pay for shares purchased under the Share Buyback Program is EUR 60 per share. The maximum amount allowed for the implementation of the Share Buyback Program is EUR 500 million. The Share Buyback Program is to be implemented for a period of eighteen months from the authorization granted by the Combined Ordinary and Extraordinary General Meeting of Shareholders on May 24, 2013, which is to say up to November 24, 2014 at the latest. 

Company Quote

2149.0
6.0 +0.28%
12:08pm EDT