Luxembourg-based satellite operator SES has announced the launch of a share buyback program through the acquisition of Fiduciary Depositary Receipts (FDRs) to meet its obligations under its Equity Based Compensation Plan (EBCP).
The buyback program will be executed by an independent intermediary, Société Générale. The timing of the buyback will depend on various factors, including market conditions. The repurchased FDRs will not be included in the calculation of the 10% ceiling authorized at the Annual General Meeting held on April 2.
Under this operation, SES may acquire up to 2,967,519 FDRs at market price for a total amount not exceeding 31,158,949.50 EUR. The program is expected to be completed before the date of the next Annual General Meeting of shareholders, or earlier if the maximum number of shares is reached before that date.
SES S.A. has a bold vision to deliver amazing experiences everywhere on earth by distributing the highest quality video content and providing seamless connectivity around the world. As the leader in global content connectivity solutions, SES S.A. operates the world's only multi-orbit constellation of satellites with the unique combination of global coverage and high performance, including the commercially proven, low-latency Medium Earth Orbit O3b system. By leveraging a vast and intelligent, cloud-enabled network, SES S.A. is able to deliver high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to the world's leading telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners.
SES S.A.'s video network carries over 10,900 channels and has an unparalleled reach of nearly 700 million households, delivering managed media services for both linear and non-linear content.
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