AXA: agreement with ISP for share cancellation
(CercleFinance.com) - As part of the capital increase reserved for its employees (Shareplan 2018) and to eliminate the diluting effect thereof, AXA has said that it has reached a share repurchase agreement with an investment service provider (ISP).
Under this agreement, the insurance company undertakes to repurchase its own shares for a maximum amount of 355,000,000 euros, in accordance with the terms of its share repurchase program, with a view to cancelling them.
The price to be paid by AXA will be calculated from an average of the weighted average prices of volumes traded over a period of 20 trading days starting on 18 September. The repurchase operations by the ISP under the convention will cease by 15 October.
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