Adecco announces EUR 400 million share buyback programme
Zurich, Switzerland, June 26, 2012: Adecco Group, the world’s leading provider of Human Resources solutions, today announces the launch of a share buyback programme of up to EUR 400 million on a second trading line, with the aim of subsequent cancellation of the shares and reduction of the share capital. The share buyback is planned to commence around mid-July 2012.
Given Adecco’s solid financial position and strong cash flow generation, Adecco’s Board of Directors has decided to launch a share buyback programme of up to EUR 400 million. This programme underlines Adecco’s commitment to manage its capital structure for the benefit of its stakeholders, without compromising the Group’s growth opportunities and financial flexibility. Adecco intends to fund the share buyback in the debt capital market and is planning to issue bonds in the near future, subject to prevailing market conditions.
The share buyback will be executed on a second trading line on the SIX Swiss Exchange. The commencement of the share buyback is planned for mid-July 2012, subject to market conditions. 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.
For further information please contact:
Adecco Corporate Investor Relations
Investor.firstname.lastname@example.org or call +41 (0) 44 878 89 89
Adecco Corporate Press Office
Press.email@example.com or call +41 (0) 44 878 87 87
Financial Agenda 2012
August 9, 2012
September 19/20, 2012
November 6, 2012
Information in this release may involve guidance, expectations, beliefs, plans, intentions or strategies regarding the future. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based on information available to Adecco S.A. as of the date of this release, and we assume no duty to update any such forward-looking statements. The forward-looking statements in this release are not guarantees of future performance and actual results could differ materially from our current expectations. Numerous factors could cause or contribute to such differences. Factors that could affect the Company’s forward-looking statements include, among other things: global GDP trends and the demand for temporary work; changes in regulation of temporary work; intense competition in the markets in which the Company operates; integration of acquired companies; changes in the Company’s ability to attract and retain qualified internal and external personnel or clients; the potential impact of disruptions related to IT; any adverse developments in existing commercial relationships, disputes or legal and tax proceedings.
About the Adecco Group
The Adecco Group, based in Zurich, Switzerland, is the world’s leading provider of HR solutions. With more than 33,000 FTE employees and over 5,500 branches, in over 60 countries and territories around the world, Adecco Group offers a wide variety of services, connecting around 700,000 associates with over 100,000 clients every day. The services offered fall into the broad categories of temporary staffing, permanent placement, career transition and talent development, as well as outsourcing and consulting. The Adecco Group is a Fortune Global 500 company.
Adecco S.A. is registered in Switzerland (ISIN: CH0012138605) and listed on the SIX Swiss Exchange (ADEN).