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.
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Financial Agenda 2013/2014
- Q3 2013 results
- Q4/FY 2013 results
|November 6, 2013|
March 12, 2014
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 over 31,000 FTE employees and around 5,200 branches, in over 60 countries and territories around the world, Adecco Group offers a wide variety of services, connecting more than 650,000 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).