Stellantis Approves Share Buyback Program

Stellantis Approves Share Buyback Program

AMSTERDAM, February 22, 2023 – The Stellantis Board of Directors approved a share buyback program of up to €1.5 billion (total purchase price excluding ancillary costs), to be executed on the market with the intent to cancel the common shares acquired through the share buyback program. The shares will be purchased over a period ending December 31, 2023 on NYSE / Euronext Milan / Euronext Paris.

The opportunity to initiate the buyback program stems from the company’s significant cash flow generation and strong balance sheet.

These factors enable the company to ensure adequate liquidity to manage a wide variety of economic and market backdrops, while simultaneously facilitating attractive capital returns to shareholders.

The share buyback program will be carried out under the authority granted by the general meeting of shareholders held on April 13, 2022, which may be renewed or extended, up to a maximum of 10% of the Company’s capital. The purchase price per common share will be no higher than an amount equal to 110% of the market price of the shares on the NYSE, Euronext Milan or Euronext Paris. The market price will be calculated as the average of the highest price on each of the five days of trading prior to the date on which the acquisition is made, as shown in the official price list of the NYSE, Euronext Milan or Euronext Paris. Following the share buyback transaction for 69.1 million shares (2.2% of the Company’s capital) executed on September 15, 2022, the remaining authorization stands at 244 million shares, more than adequate to cover this share buyback program and the potential repurchase of 99.42 million shares currently owned by Chinese JV partner Dongfeng Corporation under the terms announced on July 15, 2022.

Stellantis will provide updates on the start of buybacks and on the buyback program via a press release and on the Investors section of the corporate website. The buybacks will be carried out subject to market conditions and in compliance with applicable rules and regulations, including the Market Abuse Regulation 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.

###

About Stellantis

Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world's leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.

[img]http://www.globenewswire.com/api/ImageRender/DownloadFile?resourceId=c4ac2426-7329-4d05-bbf7-8732aba9a95a&size=3[/img]
@Stellantis
[img]http://www.globenewswire.com/api/ImageRender/DownloadFile?resourceId=b1701427-bba8-4ebe-82b5-b2d0391569a0&size=3[/img]
Stellantis
[img]http://www.globenewswire.com/api/ImageRender/DownloadFile?resourceId=bd6130c3-6f7c-4fb5-b5a8-a7f56d649b91&size=3[/img]
Stellantis
[img]http://www.globenewswire.com/api/ImageRender/DownloadFile?resourceId=3ae556a6-0ba2-4bd6-8288-3b340b1a0c00&size=3[/img]
Stellantis
 

For more information, contact:

Fernão SILVEIRA +31 6 43 25 43 41 – fernao.silveira@stellantis.com

communications@stellantis.com
www.stellantis.com
 

FORWARD-LOOKING STATEMENTS

This communication contains forward-looking statements. In particular, statements regarding future events and anticipated results of operations, business strategies, the anticipated benefits of the proposed transaction, future financial and operating results, the anticipated closing date for the proposed transaction and other anticipated aspects of our operations or operating results are forward-looking statements. These statements may include terms such as “may”, “will”, “expect”, “could”, “should”, “intend”, “estimate”, “anticipate”, “believe”, “remain”, “on track”, “design”, “target”, “objective”, “goal”, “forecast”, “projection”, “outlook”, “prospects”, “plan”, or similar terms. Forward-looking statements are not guarantees of future performance. Rather, they are based on Stellantis’ current state of knowledge, future expectations and projections about future events and are by their nature, subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future and, as such, undue reliance should not be placed on them.

Actual results may differ materially from those expressed in forward-looking statements as a result of a variety of factors, including: the impact of the COVID-19 pandemic, the ability of Stellantis to launch new products successfully and to maintain vehicle shipment volumes; changes in the global financial markets, general economic environment and changes in demand for automotive products, which is subject to cyclicality; changes in local economic and political conditions, changes in trade policy and the imposition of global and regional tariffs or tariffs targeted to the automotive industry, the enactment of tax reforms or other changes in tax laws and regulations; Stellantis’ ability to expand certain of their brands globally; its ability to offer innovative, attractive products; its ability to develop, manufacture and sell vehicles with advanced features including enhanced electrification, connectivity and autonomous-driving characteristics; various types of claims, lawsuits, governmental investigations and other contingencies, including product liability and warranty claims and environmental claims, investigations and lawsuits; material operating expenditures in relation to compliance with environmental, health and safety regulations; the intense level of competition in the automotive industry, which may increase due to consolidation; exposure to shortfalls in the funding of Stellantis’ defined benefit pension plans; the ability to provide or arrange for access to adequate financing for dealers and retail customers and associated risks related to the establishment and operations of financial services companies; the ability to access funding to execute Stellantis’ business plans and improve its businesses, financial condition and results of operations; a significant malfunction, disruption or security breach compromising information technology systems or the electronic control systems contained in Stellantis’ vehicles; Stellantis’ ability to realize anticipated benefits from joint venture arrangements; disruptions arising from political, social and economic instability; risks associated with our relationships with employees, dealers and suppliers; increases in costs, disruptions of supply or shortages of raw materials, parts, components and systems used in Stellantis’ vehicles; developments in labor and industrial relations and developments in applicable labor laws; exchange rate fluctuations, interest rate changes, credit risk and other market risks; political and civil unrest; earthquakes or other disasters; and other risks and uncertainties.

Any forward-looking statements contained in this communication speak only as of the date of this document and Stellantis disclaims any obligation to update or revise publicly forward-looking statements. Further information concerning Stellantis and its businesses, including factors that could materially affect Stellantis’ financial results, is included in Stellantis’ reports and filings with the U.S. Securities and Exchange Commission and AFM.


Attachment

  • 20230222-Stellantis-Share-Buyback-FINAL-EN

Stellantis Approves Share Buyback Program

TIN LIÊN QUAN

Ferrari N.v.: Periodic Report on the Buyback Program

aranello (Italy), February 27, 2023 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 200...

Nokia Corporation: Repurchase of own shares on

Nokia CorporationStock Exchange Release8 March 2023 at 21:00 EET Nokia Corporation: Repurchase of own shares on 08.03.2023 Espoo, Finland – On 8 March...

Nokia Corporation: Repurchase of own shares on 06.03.2023

Nokia CorporationStock Exchange Release6 March 2023 at 21:00 EET Nokia Corporation: Repurchase of own shares on 06.03.2023 Espoo, Finland – On 6 March...

Stellantis Publishes 2022 Annual Report and Files Form

Stellantis Publishes 2022 Annual Report and Files Form 20-F AMSTERDAM, February 24, 2023 – Stellantis N.V. announced today that it published its 2022...

THỦ THUẬT HAY

11 phím tắt biến bạn thành siêu nhân Excel

Excel là 1 công cụ cực kì phổ biện tại Việt Nam, do đó việc thao tác nhanh tiết kiệm thời gian sẽ giúp bạn tập trung và giải quyết các vấn đề hiệu quả hơn rất nhiều bằng việc nắm vững 11 phím tắt sau đây.

Top 10 thói quen lãng phí thời gian cần loại bỏ

Bạn sẽ có thêm thời gian để làm rất nhiều việc khác nếu bắt đầu loại bỏ 10 thói quen cực xấu này.

Tải toàn bộ dữ liệu cá nhân trên Facebook về máy tính một cách dễ dàng

Dạo gần đây xảy ra quá nhiều lùm xùm liên quan đến vấn đề thông tin người dùng của Facebook, nên chắc hẳn sẽ có nhiều anh em nhạy cảm với vấn đề bảo mật sẽ không sử dụng mạng xã hội này trong một thời gian nữa, hoặc

BlueStacks 3 và Nox Player 6 có những điểm gì giống và khác nhau?

Do vậy, để đáp ứng nhu cầu giải trí của mọi người. Những phần mềm Android trên PC đã được ra đời nhằm phục vụ nhu cầu sử dụng ứng dụng Android trên máy tính. Các phần mềm như BlueStacks, Nox Player, MEmu, KOPlayer...

7 phím tắt cần phải cực hữu ích khi sử dụng iPhone

iPhone, không cần phải nói nhiều! Một sản phẩm hoàn hảo từ cả phần cứng đến phần mềm. Sự mượt mà và tiện lợi của chiếc điện thoại này đem lại đã...

ĐÁNH GIÁ NHANH

Trên tay USB-C Hub của Hyper Drive với 11 cổng mở rộng

Hiện tại đây là USB-C HUB có nhiều cổng mở rộng nhất: 11 cổng. Điều đáng tiếc nhất là chất lượng hoàn thiện của Hub này hơi kém. Những cổng khá đặc biệt như là VGA, Thunderbolt 2.0 và lỗ tai nghe 3.5mm.

Đánh giá xe Audi Q8 50 TDI - Đỉnh cao công nghệ!

“Sự kết hợp giữa một chiếc SUV to lớn và một chiếc coupe 4 cửa sang trọng, với âm hưởng từ huyền thoại Ur-Quattro”. Đó chính xác là những lời Audi dành cho mẫu SUV đầu bảng của mình. Dù

Realme 7i: Trải nghiệm nhiều tính năng cao cấp với giá hợp lý

Realme 7i được coi là một phiên bản rút gọn của Realme 7 và Realme 7 Pro. Tuy nhiên, điều đó không khiến chiếc máy này bị cắt giảm quá nhiều các tính năng hay ngoại hình kém hấp dẫn hơn. Chúng ta vẫn có một smartphone