FOR IMMEDIATE RELEASE
BIC LAUNCHES ITS SECOND
ESG SHARE BUYBACK PROGRAM
Clichy, France – January 21, 2022 – BIC announces today the launch of a 40 million euros ESG Share Buyback program1. The purchase period will start on Monday, January 24, 2022, and end on December 22, 2022, at the latest. The maximum purchase price per share shall not exceed 100 euros.
Exane BNP Paribas will execute the program under the authorization granted by SOCIETE BIC Annual Shareholder Meeting on May 19, 2021, and under the Market Abuse Regulation ("MAR") and the Commission Delegated Regulation (the "Safe Harbour Regulation").
This program, the second of its kind for the Group, is aligned with BIC's Corporate Responsibility Program, and its vision and mission to create and share value with all stakeholders. The outperformance2 in purchasing the share over the program's execution will be allocated to the Abdul Latif Jameel Poverty Action Lab (J-PAL) to support research programs related to Education, and the BIC Corporation Foundation for Education.
"I am thrilled to renew BIC's partnership with Exane BNP Paribas and J-PAL. This second innovative ESG share buyback program is further demonstration of BIC's long-term commitment to improving lives through Education, and building a better future for millions of children around the world' said Gonzalve Bich, BIC's Chief Exective Officer. "J-PAL's research on effective tutoring and parent engagement programs that we began supporting in 2021 through our first ESG share buyback will help identify and develop innovative and more inclusive education models. I look forward to strengthening our collaboration with J-PAL's teams in Europe and the U.S. and building on our first partnership."
Approved by BIC's Board of Directors, the program is consistent with BIC's Capital Allocation Policy, which is comprised of:
investments into operations to sustain organic growth
targeted acquisitions to strengthen existing activities and develop in adjacent categories,
Sustainable return to Shareholders, with an objective of ordinary dividend pay-out ratio in the range of 40% to 50% of Normalized EPS, and regular share buybacks.
Albane de La Tour d’Artaise
ALL DATES TO BE CONFIRMED
FY 2021 Results
February 15, 2022
1st Quarter 2022 Results
April 26, 2022
2022 Annual General Meeting
18 May, 2022
1st Half 2022 Results
August 2, 2022
3rd Quarter 2022 Results
October 27, 2022
A world leader in stationery, lighters and shavers, BIC brings simplicity and joy to everyday life. For more than 75 years, the Company has honored the tradition of providing high-quality, affordable, essential products to consumers everywhere. Through this unwavering dedication, BIC has become one of the most recognized brands and is a trademark registered worldwide. Today, BIC products are sold in more than 160 countries around the world and feature iconic brands such as BIC Kids™, BIC FlexTM, BodyMark by BICTM, Cello®, Djeep, Lucky Stationery, Rocketbook, Soleil®, Tipp-Ex®, Us. TM, Wite-Out® and more. In 2020, BIC Net Sales were 1,627.9 million euros. The Company is listed on ""Euronext Paris"," is part of the SBF120 and CAC Mid 60 indexes and is recognized for its commitment to sustainable development and Education. It received an A- Leadership score from CDP. For more, visit www.bic.com or follow us on LinkedIn, Instagram, Twitter, or YouTube.
The Abdul Latif Jameel Poverty Action Lab (J-PAL) is a global research center working to reduce poverty by ensuring that policy is informed by scientific evidence. Anchored by a network of over 260 affiliated professors at universities around the world, J-PAL conducts randomized impact evaluations to answer critical questions in the fight against poverty. J-PAL's network of seven regional offices is hosted at leading universities in Africa, Europe, Latin America & the Caribbean, the Middle East & North Africa, North America, South Asia, and Southeast Asia.
ABOUT EXANE BNP PARIBAS
Exane BNP Paribas is a leading European equities business. We offer a high-quality execution platform with full electronic trading capability. Our Research product is renowned for its depth and quality and is reinforced by experienced, top-ranked Sales & Specialist Sales teams as well as a dedicated corporate access service Exane BNPP Corporate Broking team is active in market intelligence, liquidity agreements, share buybacks and management of listed stakes.
1 Maximum amount
2 The outperformance is the difference between the purchase price and the average VWAP over the execution period.