Within the context of the transfer by Françoise Bettencourt Meyers of 27,650,000 L’Oréal shares to the company Financière L’Arcouest, on 12 December 2023, the AMF granted the Bettencourt Meyers family a waiver from the obligation to file a draft public offer for the L’Oréal shares (AMF decision no. 223C2036) following this internal reclassification within the Bettencourt Meyers family group. As a member joining the Bettencourt Meyers family group,
Financière L’Arcouest is therefore required to comply with the aforementioned commitments made by the Bettencourt Meyers family group as part of the waiver decision of 8 December 2021.
The Company is not aware of any shareholders’ agreements affecting shares and its capital other than those described above.
During the 2024 financial year, the Company redeemed 1,308,557 of its own shares, in accordance with the authorisation approved by the Annual General Meeting of 23 April 2024.
The table below summarises by purpose the transactions carried out in this context and the use made of the securities redeemed:
| Date of authorisation of the Annual General Meeting | 17th resolution of 23 April 2024 |
|---|---|
| Authorisation expiry date | 20 October 2025 |
| Maximum amount of authorised buybacks | 10% of the share capital on the date of the buybacks (i.e., as an indication, 53,472,547 shares at 31 December 2023) |
| Maximum purchase price per share (excluding costs) | €700 |
| Authorised purposes | Cancellation
Employee shareholding Free grants of shares Liquidity and market stabilisation External growth, merger, demerger or contribution |
| Board of Directors’ meeting that decided on the buybacks | 30 July 2024 |
| Purpose of buybacks | Cancellation |
| Period of buybacks made | From 6 August 2024 to 12 September 2024 |
| Number of shares bought back | 1,308,557 |
| Average purchase price per share | €382.10* |
| Use of shares bought back | Cancellation |
* Excluding expenses.
1,308,557 shares were cancelled in 2024(1). Over the last 24 months, 2,580,189 shares have been cancelled.
As of 31 December 2024, the Company does not hold any of its own shares.
By voting a new resolution, the Annual General Meeting could give the Board of Directors the means to enable it to continue with the buyback policy.
This authorisation would expire at the end of a period of eighteen months from the General Meeting and take effect on 23 October 2025, i.e., on the expiry of the current authorisation for the Company to repurchase its own shares that expires on 22 October 2025, and the purchase price per share could not exceed €700 (excluding expenses); provided that in the event a public offer is filed for the Company’s securities by a third party, the Board of Directors will not be able to use this authorisation during the public offer period without the prior authorisation of the Annual General Meeting.
The Company would be able to buy its own shares for the following purposes:
The authorisation would concern up to 10% of the share capital, i.e., as an indication, 53,431,202 shares for a maximum amount of €37,401,841,400 at 31 December 2024; it being specified that the Company may not at any time hold more than 10% of its own share capital.
The purchase, sale, exchange or transfer of these shares may be carried out by any means on one or more occasions, on or off the stock market, including in whole or in part, through the acquisition, sale, exchange or transfer of blocks of shares. These means include the use of all financial instruments and derivatives (see Resolution 17).
