Eurofins launches the second tranche of a buy-back programme of its own shares
Following the announcement on 3 October 2022 to buy-back some of its own shares (ISIN FR0014000MR3) (the “Share Repurchase Plan”) and the completion of the first tranche, Eurofins Scientific SE (the “Company”) (EUFI.PA) has mandated an independent provider of financial services to execute the second tranche of this programme.
The Share Repurchase Plan allows the acquisition of a maximum amount representing up to 2% of the Company’s share capital, over a maximum of twelve months as per the authorisation granted by the Company’s Extraordinary General Meeting of shareholders held on 25 April 2019 (the “EGM”). The Company may at any time interrupt this programme in view of market conditions and/or evolution of its investment strategy.
The shares to be purchased under this programme will be primarily used to hedge the Company’s Long-Term Incentive plans but may also be cancelled, used to partially finance acquisitions or for other purposes approved by the Board of Directors and within the authorization of the EGM.
The first tranche was completed on 3 December 2022. Between 3 October and 3 December, 121,493 shares were repurchased at an average price of 61.31 EUR, representing 0.06% of the current share capital. It is currently intended that all purchased shares may be used as previously communicated, including to cover the Company’s Long-Term Incentive plans as approved by the Board of Directors at its meeting on 19 December 2022.
The second tranche will cover a maximum volume of up to one million shares or 0.52% of the Company’s current share capital. The purchase period will start on 22 December 2022 and will last until 3 March 2023 at the latest.
Notes to Editors:
For more information, please visit www.eurofins.com or contact:
Investor Relations
Eurofins Scientific SE
Phone: +32 2 766 1620
E-mail: ir@eurofins.com
About Eurofins – the global leader in bio-analysis
Eurofins is Testing for Life. Eurofins is the global leader in food, environment, pharmaceutical and cosmetic product testing, and in discovery pharmacology, forensics, advanced material sciences and agroscience Contract Research services. Eurofins is also a market leader in certain testing and laboratory services for genomics, and in the support of clinical studies, as well as in BioPharma Contract Development and Manufacturing. The Group also has a rapidly developing presence in highly specialised and molecular clinical diagnostic testing and in-vitro diagnostic products.
With over 61,000 staff across a decentralised and entrepreneurial network of 900 laboratories in 61 countries, Eurofins offers a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of a wide range of products, as well as providing innovative clinical diagnostic testing services and in-vitro diagnostic products.
The Group’s objective is to provide its customers with high-quality services, innovative solutions and accurate results on time. Eurofins is ideally positioned to support its clients’ increasingly stringent quality and safety standards and the increasing demands of regulatory authorities as well as the requirements of healthcare practitioners around the world.
In 2020 and 2021, Eurofins reacted quickly to meet the global challenge of COVID-19, by creating the capacity to help over 20 million patients monthly who may have been impacted by the pandemic with our testing products and our services and directly supporting healthcare professionals working on the front line to fight the virus. The Group has established widespread PCR testing capabilities and has carried out over 40 million tests in its own laboratories, is supporting the development of a number of vaccines and has established its SAFER@WORK™ testing, monitoring and consulting programmes to help ensure safer environments, travel and events during COVID-19.
Eurofins has grown very strongly since its inception and its strategy is to continue expanding its technology portfolio and its geographic reach. Through R&D and acquisitions, the Group draws on the latest developments in the field of biotechnology and analytical chemistry to offer its clients unique analytical solutions.
Shares in Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0014000MR3, Reuters EUFI.PA, Bloomberg ERF FP).
Until it has been lawfully made public widely by Eurofins through approved distribution channels, this document contains inside information for the purpose of Regulation (EU) 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse, as amended.
Important disclaimer:
This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgment of Eurofins Scientific’s management as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the information available to the Company’s management as of the date of publication, but no guarantees can be made as to their completeness or validity.