Adecco finishes EUR 250 million share repurchase program and initiates a new one worth up to EUR 250 million.
In a recent corporate announcement, global staffing solutions provider Adecco has revealed plans for a new share buyback program, aiming to repurchase up to EUR 250 million of its own shares. The program, which will be executed on the existing second trading line on SIX Swiss Exchange, is scheduled for completion by November 10, 2017.
The buyback program signals management's confidence in Adecco's valuation and prospects, as it intends to return value to shareholders by reducing the number of outstanding shares. Once the shares are repurchased, they will be cancelled or held as treasury stock, potentially increasing earnings per share (EPS) and the share price.
However, the exact details regarding the tax implications and share cancellation mechanics of the 2015 buyback program have not been disclosed. For precise information on these matters, it is recommended to consult Adecco's 2015 financial reports or official press releases.
Adecco has also announced its financial results for various quarters. Q1 2015 results will be announced on May 7, Q2 2015 on August 11, Q3 2015 on November 5, and Q4 2014 on March 11, 2015.
The company's Annual General Meeting is scheduled for April 21, 2015, during which the cancellation of the remaining repurchased shares from the 2014 meeting will be resolved. Shareholders and investors are encouraged to contact Adecco's Corporate Investor Relations at [email protected] or +41 (0) 44 878 89 89 for further information.
It is important to note that the company's forward-looking statements involve risks and uncertainties. Factors that could affect these statements include global GDP trends, changes in regulation, intense competition, integration of acquired companies, changes in the ability to attract and retain qualified personnel or clients, potential impact of IT disruptions, and adverse developments in existing commercial relationships, disputes, or legal and tax proceedings.
For press inquiries, contact Adecco's Corporate Press Office at [email protected] or +41 (0) 44 878 87 87. Shares purchased on the second trading line are subject to the Swiss federal withholding tax of 35% on the difference between the buyback price and the nominal value of CHF 1.00.
The buyback program is not a guarantee of future performance, and actual results could differ materially from current expectations.
The buyback program indicates that Adecco's management is confident about their business prospects in investing, as they aim to enhance shareholder value by repurchasing shares and increasing earnings per share (EPS) in finance. Adecco encourages shareholders and investors to consult their 2015 financial reports for detailed information on the tax implications and share cancellation mechanics of the buyback program.
