Download the 2009 annual report in PDF format - ANF

Pursuant to the regulations in effect and the market practices
allowed by the Financial Markets Authority, the various objectives of
the buyback programme are as follows:
• to cancel shares further to the authority granted to the Executive
Board by the shareholders at the Extraordinary Shareholders’
Meeting;
• to adjust the ANF share price under the liquidity contract
made with an independent investment services company, in
accordance with a code of ethics approved by the Financial
Markets Authority;
• to have shares available for allocation to salaried employees
and corporate offi cers of the Company and/or present and
future associated companies under the terms provided by the
applicable legislation on exercising call options, bonus share
allocations and profi t-sharing schemes involving stock options;
• remittance or exchange of shares at the time of an exercise of
rights attached to debt instruments giving a right, by any means,
to allocation of the Company’s shares;
• to have shares available to keep or remit at a later date in
exchange or as payment for acquisitions. However, the number
of shares the Company is allowed to buy back for this purpose
may not exceed 5% of its share capital;
• any other practice which may be allowed or recognised by law or
by the Financial Markets Authority, or any other objective which
complies with regulations in effect.
The Ordinary and Extraordinary General Meeting of May 28, 2009
(11th resolution) authorised the Executive Board to reduce, in one
or several transactions, within a limit of 10% of the capital in a
24-month period, the Company’s capital, by cancellation of shares
purchased pursuant to the 10th resolution of the same meeting
and/or the 5th resolution of the Ordinary and Extraordinary General
Meeting of May 14, 2008.
Share buybacks by ANF in 2009
and until March 31, 2010
In 2009, ANF bought 113,540 shares at an average price of €29.52,
for a total cost of €3,352,149.
Between January 1, 2009 and March 31, 2010, ANF bought
152,574 shares at an average price of €30.01, for a total cost of
€4,579,425.
Buybacks used in the context of a liquidity contract to
increase share liquidity.
In 2009, ANF bought 113,540 shares at an average price of €29.52,
for a total cost of €3,352,149, in the context of a liquidity contract
to increase share liquidity.
Between January 1, 2009 and March 31, 2010, ANF bought
152,574 shares at an average price of €30.01, for a total cost of
€4,579,425, in the context of a liquidity contract to increase share
liquidity.
Share buybacks for cancellation
During fi scal year 2009 and until March 31 2010, ANF did not buy
back any shares for cancellation.
INFORMATION ABOUT ANF
ANF and its shareholders
Share buybacks for allocation to employees and
corporate offi cers
In 2009, and until March 31, 2010, ANF did not buy any shares for
the allocation of bonus shares or profi t-sharing schemes involving
stock options.
Share buybacks performed for remittance or
exchanges when rights attached to debt instruments
are exercised
During fi scal year 2009 and until March 31 2010, ANF did not buy
back any shares for remittance or exchanges when rights attached
to debt instruments are exercised.
Share buybacks to be held and for subsequent
remittance within the framework of outside growth
acquisitions
During fi scal year 2009 and until March 31 2010, ANF did not buy
back any shares in order to hold them and subsequently remit them
within the framework of outside growth acquisitions.
Sales of shares in 2009
and until March 31, 2010
In 2009, Rothschild & Cie Banque sold 104,500 shares at an
average price of €28.40 per share, for a total cost of €2,967,425,
on behalf of ANF in the context of a liquidity contract to increase
share liquidity.
Between January 1, 2009 and March 31, 2010, 170,797 shares
were sold at an average price of €25.81 per share, for a total cost of
€4,407,504, in the context of a liquidity contract to increase share
liquidity.
Terms of share buybacks
Between January 1, 2009 and March 31 2010, ANF bought back
shares through direct purchases on the market and in the context
of a liquidity contract to increase share liquidity.
During this period, ANF did not use any derivatives in order to make
its purchases.
Cancellation of shares by ANF
ANF has not cancelled any shares over the past 24 months.
Pursuant to Article L. 225-209-4 of the French Commercial Code,
shares may be cancelled only within a limit of 10% of a company’s
capital in 24-month periods.
Potential reallocations
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Contents
The shares purchased by ANF under the authorisation granted
by the 10th resolution adopted by the Ordinary and Extraordinary
General Meeting on May 28, 2009 or under any other previous
authorisation have not been reallocated for other purposes than
those initially assigned upon purchase.
ANF • 2009 ANNUAL REPORT
83
OTHER GENERAL GENERAL INFORMATION PRO FORMA FINANCIAL INFORMATION ANNUAL ANNUAL FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL FINANCIAL STATEMENTS INFORMATION ABOUT ANF DESCRIPTION OF THE BUSINESS