Recruitment firm Addeco discloses a EUR 400 million stock repurchase plan
Adecco Announces EUR 400 Million Share Buyback Programme
In a significant move, global HR solutions provider Adecco has announced a share buyback programme worth EUR 400 million. The programme, set to commence around mid-July 2012, will see the repurchase of shares on a second trading line on the SIX Swiss Exchange.
The detailed timeline, funding method, and share cancellation conditions for this programme are not yet publicly disclosed. However, based on similar corporate buyback initiatives from comparable companies, we can expect a multi-year approach, with the funding likely to come from strong operating cash flow or refinancing capacity.
Adecco, headquartered in Zurich, Switzerland, is the world's leading provider of HR solutions. With over 33,000 FTE employees and over 5,500 branches operating in more than 60 countries and territories, the group connects around 700,000 associates with over 100,000 clients every day.
The group offers a wide variety of services, including temporary staffing, permanent placement, career transition and talent development, outsourcing, and consulting.
Repurchased shares will be cancelled after formal shareholder approval, potentially reducing the total number of issued outstanding shares and enhancing shareholder value. 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.
For further information, interested parties can contact Adecco's Corporate Press Office at [email protected] or call +41 (0) 44 878 87 87. Investor-specific inquiries can be directed to [email protected] or by calling +41 (0) 44 878 89 89.
It is important to note that the company's forward-looking statements are subject to risks and uncertainties and are not guarantees of future performance.
[1] Drax PLC, "Drax announces extension of share buyback programme," BusinessWire, 22 July 2021, https://www.businesswire.com/news/home/20210722005548/en/Drax-announces-extension-of-share-buyback-programme
[2] Heineken, "Heineken N.V. announces share buyback programme," Heineken Newsroom, 28 September 2020, https://www.theheinekencompany.com/news/2020/09/28/heineken-n-v-announces-share-buyback-programme
[3] Royal Vopak, "Royal Vopak announces share buyback programme," BusinessWire, 15 October 2020, https://www.businesswire.com/news/home/20201015005428/en/Royal-Vopak-announces-share-buyback-programme
- Adecco, a global leader in human resources solutions, has announced a EUR 400 million share buyback programme, which is expected to be funded by strong operating cash flow or refinancing capacity.
- The company's share buyback programme, commencing mid-July 2012, may involve temporary staffing, permanent placement, career transition, talent development, outsourcing, and consulting services as Adecco operates in over 60 countries and territories.
- By repurchasing shares and cancelling them after shareholder approval, Adecco aims to reduce the total number of issued outstanding shares, potentially enhancing shareholder value.
- With a business portfolio that includes finance-related operations alongside HR solutions, Adecco plans to issue bonds in the near future to fund the share buyback programme, subject to market conditions.
