Own share transactions

You will find here our annual declarations of own shares transactions as well as our liquidity contract.

Own share transactions

Liquidity agreement

The Coface Group announced that, as of July 7th, 2014, the company entrusts NATIXIS with the implementation of a liquidity agreement on COFACE SA shares (Paris – Code ISIN FR0010667147), traded on Euronext Paris.

The liquidity agreement was concluded for a period of 12 months, tacitly renewable.

To enable NATIXIS to make interventions under the contract, COFACE SA has allocated to the liquidity account the amount of: €5.000.000,00 (five million euros).

This contract was renewed in 2015, 2016, 2017, 2018, 2019 and then 2020. The amount was reduced to € 3,000,000.00 (three million euros) in November 2017.

As part of its partnership with Oddo BHF, Natixis transferred equity intermediation activities to Oddo BHF, while maintaining the commercial relationship and the responsibility for market surveillance services. In this context, COFACE S.A. has signed a tripartite liquidity agreement with Oddo BHF and Natixis on 28 June 2018. The financial conditions remain unchanged. Natixis on behalf of Oddo BHF, to whom it is entirely repaid, collect the remuneration.

The contract is in accordance with the provisions of the existing legal framework, in particular the provisions of Regulation (CE) 2273/2003 of the Commission from December 22nd,  2003, which details the rules for the application of Directive 2003/6/CE of the European Parliament and Council (regarding the exemptions for buy-back programs and stabilization of financial instruments); the provisions of Articles L. 225-209 and following of the French Commercial Code; the provisions of the General Regulations of the French Market Regulator (AMF) and the AMF decision (2011-07 March 21st, 2011), updating the accepted market practices on liquidity agreements.

The contract is also consistent with the Charter of Ethics established by the AMAFI of March 8th, 2011 and approved by the decision of the French Market Regulator (AMF) of March 21st, 2011.

It is reminded that the Shareholders’ Combined General Meeting of COFACE SA (the Company) held on of 17 May 2022, had previously authorized the Board of Directors, in its eighth (8th) resolution, to carry out transactions on COFACE SA’s shares under the framework of the 2022-2023 Share Buyback Program. The main features and description of the said program are published on the Company’s website and on the 2021 Universal Registration Document. 

The Company, listed on Euronext Paris - Compartment A -, wishes to continue to have a Share Buyback Program (the Program), pursuant to applicable regulation. To this end, the Shareholders’ Combined General Meeting of 16 May 2023 reauthorized the Board of Directors, with the power to sub delegate in accordance with legislative and regulatory provisions, fourth (4th) resolution, to implement a new Share Buyback Program on the Company’s shares (Code ISIN FR0010667147). This Program shall replace the existing one established by the Combined General Meeting of 17 May 2022.

2023 12 31 - Half year statement of the liquidity agreement