Adecco completes share buyback programme of EUR 400 million and starts new share buyback programme of up to EUR 250 millionSeptember 17, 2013
Adecco completes share buyback programme of EUR 400 million and starts new share buyback programme of up to EUR 250 million
Zurich, Switzerland, September 17, 2013 - Adecco Group, the world’s leading provider of Human Resources solutions, announces that it has completed the EUR 400 million share buyback programme launched in July 2012. Adecco repurchased 9,721,446 of its shares (equal to 5.14% of the share capital) via a second trading line on SIX Swiss Exchange. The average purchase price per share excluding commissions was CHF 50.08.
The 2014 Adecco General Shareholders Meeting will resolve on the reduction of share capital through cancellation of the repurchased shares.
Further and as anticipated in Adecco’s Q2 2013 press release, Adecco launches today a new share buyback programme of up to EUR 250 million.
The new share buyback programme will also be executed on the existing second trading line on SIX Swiss Exchange. Repurchased shares will be cancelled after formal shareholder approval. Shares purchased on the second trading line are subject to the Swiss federal withholding tax of 35% on the difference between the buyback price of the Adecco share and its nominal value of CHF 1.00.