During the 2021 financial year, the Company redeemed 25,260,000 of its own shares, in accordance with the authorisation approved by the Annual General Meeting of 20 April 2021.
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 | 16th resolution of 20 April 2021 |
|---|---|
| Authorisation expiry date | 19 October 2022 |
| Maximum amount of authorised buybacks | 10% of the share capital on the date of the buybacks (i.e. as in indication, 55,987,158 shares at 31 December 2020) |
| Maximum purchase price per share (excluding costs) | €400 |
| Authorised purposes |
Cancellation Employee shareholding Free grants of shares Liquidity and market stabilisation External growth |
| Board of Directors’ meeting that decided on the buybacks | 20 April 2021 and 7 December 2021 |
| Purpose of buybacks | Cancellation |
| Period of buybacks made | From 3 May 2021 to 18 June 2021and 15 December 2021 |
| Number of shares bought back | 3,000,000* and 22,260,000** |
| Average purchase price per share | €367.28*** and €400*** |
| Use of shares bought back |
Cancellation of 3,000,000 shares 22,260,000 shares redeemed for cancellation**** |
* These shares were cancelled on 30 July 2021.
** Buyback by L’Oréal of 4% of its own shares held by Nestlé.
*** Excluding expenses.
**** These shares were cancelled after the end of the 2021 financial year on 9 February 2022 once the Board of Directors had decided on this cancellation, with effect from 10 February 2022.
| Percentage of directly and indirectly self-held capital as at 31 December 2021, of which: | 4.0% |
|---|---|
| ● backed by stock option plans | ● backed by stock option plans 4.0% 0.0 % |
| ● backed by conditional shares | ● backed by conditional shares 4.0% 0.0 % |
| ● intended for cancellation | ● intended for cancellation 4.0% 4.0 % |
| Number of shares cancelled over the previous 24 months | Number of shares cancelled over the previous 24 months 4.0% 3,000,000 |
| Number of securities held in the portfolio as at 31.12.2021 | Number of securities held in the portfolio as at 31.12.2021 4.0% 22,260,000 |
| Net book value of the portfolio as at 31.12.2021 | Net book value of the portfolio as at 31.12.2021 4.0% €8,904,000,000 |
| Market value of the portfolio as at 31.12.2021 | Market value of the portfolio as at 31.12.2021 4.0% €9,281,307,000 |
| Gross cumulative flows | ||
|---|---|---|
| Purchases | Sales/Transfers* | |
| Number of securities | Number of securities Gross cumulative flowsN/A |
Number of securities
N/A |
| Average transaction price | Average transaction price Gross cumulative flowsN/A |
Average transaction price
N/A |
| Average exercise price | Average exercise price Gross cumulative flowsN/A |
Average exercise price
N/A |
| Amounts | Amounts Gross cumulative flowsN/A |
Amounts
N/A |
* Exercise and cancellation of stock options granted to employees and corporate officers of Group companies
No use was made of derivatives to make the share buybacks. There was no open purchase or sale position at 31 December 2021.
