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THE BRINK'S COMPANY

(BCO)
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BRINKS CO : Other Events (form 8-K)

11/01/2021 | 03:39pm EST

Item 8.01. Other Events.

On October 29, 2021, The Brink's Company (the "Company") entered into a Supplemental Confirmation, supplementing a Master Confirmation, dated as of August 26, 2020, with JPMorgan Chase Bank, N.A. ("JPMorgan") (collectively, the "ASR Agreement") to repurchase an aggregate of $150 million of the Company's common stock (the "ASR transaction"). The Company is repurchasing these shares under the authority granted by the Company's Board of Directors (the "Board") in February 2020 to purchase up to an aggregate $250 million of the Company's common stock, which expires December 31, 2021. Upon completion of the ASR transaction, the Company will have no remaining authority under this authorization; however, as disclosed on a Current Report on Form 8-K filed on October 27, 2021, the Board has approved an additional $250 million of share repurchase authority, which expires December 31, 2023.

Under the terms of the ASR Agreement, the Company will pay $150 million to JPMorgan and will receive approximately 1,742,160 shares based on market prices, representing approximately 80% of the total shares that the Company expects to repurchase under the ASR Agreement. The Company expects to receive additional shares representing the balance of 20% of the remaining shares under the ASR Agreement by no later than the end of the second quarter of 2022, when the ASR transaction is expected to be completed. The final number of shares to be repurchased will be based on the average of the daily volume-weighted average prices of the Company's common stock during the term of the transaction, less a discount and subject to adjustments pursuant to the terms of the ASR Agreement. At settlement, under certain circumstances, JPMorgan may be required to deliver additional shares of common stock to the Company, or, under certain circumstances, the Company may be required to deliver shares of its common stock or may elect to make a cash payment to JPMorgan. The ASR Agreement contains customary terms for these types of transactions, including the mechanisms to determine the number of shares or the amount of cash that will be delivered at settlement, the required timing of delivery upon settlement, the specific circumstances under which adjustments may be made to the transactions, the specific circumstances under which the transactions may be cancelled prior to the scheduled maturity and various acknowledgments, representations and warranties made by the Company and JPMorgan to one another.

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© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 4 175 M - -
Net income 2021 - - -
Net Debt 2021 2 053 M - -
P/E ratio 2021 -
Yield 2021 0,98%
Capitalization 3 371 M 3 371 M -
EV / Sales 2021 1,30x
EV / Sales 2022 1,10x
Nbr of Employees 75 100
Free-Float -
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Technical analysis trends THE BRINK'S COMPANY
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 2
Last Close Price 68,58 $
Average target price 96,50 $
Spread / Average Target 40,7%
EPS Revisions
Managers and Directors
Douglas Allen Pertz President, Chief Executive Officer & Director
Ronald James Domanico Chief Financial Officer & Executive Vice President
Michael J. Herling Non-Executive Chairman
Rohan Pal Executive VP, Chief Information & Digital Officer
Richard M. Eubanks Chief Operating Officer & Executive Vice President
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