Paris, November 19, 2021, 7.30 am CET
NEXITY LAUNCHES ITS FIRST SHARE BUYBACK PROGRAM WITH ESG IMPACT
Nexity announces the launch today of its first share buyback program with an ESG impact for an amount of 20 million euros, under the authorization given by the Shareholders' Meeting of May 19, 2021 and the description of the buyback program published on the same day.
This program is part of the company's overall capital allocation strategy, which aims to create and share value for all its stakeholders.
The ESG component of the program is based on the decision to allocate the outperformance linked to the buyback to the financing, through the Nexity Foundation, of projects related to social inclusion through housing, training and employment, and notably a support to the French National Association “Les Compagnons Bâtisseurs”, a network active for more than 60 years in housing improvement and professional inclusion of young people without employment or training.
This program is part of the Board of Directors' decision to buy back shares to offset the potential dilution caused by the vesting of free shares with the Group’s employees. Its launch will bring the amount of share buybacks carried out since 2018 to around 80 million euros.
For Nadia Ben Salem-Nicolas, Nexity's Deputy Managing Director in charge of Finance:
"I am proud of the launch by Nexity of its first ESG impact share buyback program. It proves our ability to use financial innovation at the service of the ‘life...
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