Success of the share buyback offer launched by JCDecaux

JCDecaux SA (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announced that it was informed of the results of the simplified public tender offer (“offre publique d’achat simplifiée”, OPAS) to buy back 12,500,000 of its own shares at a price per share of €40, which ended on 9 July 2015.

The Autorité des marchés financiers (AMF) published the results of the offer on 15 July, 2015 in its avis No 215C1033.

194,419,422 shares, accounting for 87% of the share capital, were tendered to the offer. Out of these, 61% of the free float (which excludes shares held by JCDecaux Holding SAS as well as by Messrs. Jean-Claude Decaux, Jean-François Decaux, Jean-Charles Decaux and Jean-Sébastien Decaux and Mrs. Danielle Decaux, all of which were tendered to the offer, as previously announced) were tendered to the offer.

The success of the OPAS is reflected in the total number of shares tendered, which exceeds the 12,500,000 shares subject to the offer. As a consequence and in accordance with article 233-5 of the general regulations of the AMF, the buyback allocation was determined through a pro rata reduction on an equal basis between all shareholders based on the number of shares tendered to the offer. In line with the maximum size announced for the offer, JCDecaux is eventually buying back a total of 12,500,000 shares, for a consideration of €500 million.

As announced, all shares repurchased in the context of the simplified tender offer will be canceled, in accordance with the objectives of the share buyback program. The success of the offer, which, thanks to the strength of the balance sheet of JCDecaux, was funded primarily from its own resources and in part by drawing on an existing credit facility, will result in an increase in its earnings per share and optimize its financial structure, while preserving its capacity to continue both organic and external growth.