Cosmetic maker L'Oréal declares to buy back shares from market
04 Jul '05
1 min read
Cosmetic major L'Oréal BOD met on June 29th, 2005 under the chairmanship of Sir Lindsay Owen-Jones, noted that the share buyback programme launched on June 15th, 2004, under which twenty one millions eight hundred and forty thousand shares have been bought back for an amount of one billion two hundred and fifty millions euros, had been completed.
The Board of Directors decided, in application of the resolution approved by the Annual General Meeting of April 26th, 2005, to carry out further buybacks of L'Oréal shares over the next twelve months for a maximum amount of one billion two hundred and fifty millions euros.
The shares thus bought back will be cancelled. This programme could of course be interrupted in the event of a strategic opportunity.
France based cosmetic maker L'Oréal founded in 1907 by visionary scientist, Eugene Schueller, the backbone of L'Oréal has always been: progressive research and development, state-of-the-art manufacfacturing, quality products, and the passionate commitment of the men and women who make, market and distribute them.
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