(Finance) – Campari announced thelaunch of a share buyback program intended to fulfill the obligations arising from long-term share-based incentive programs and other incentive plans currently in force or to be adopted, the beneficiaries of which are (or will be) employees or other members of the Company’s administrative or management bodies or other Campari Group companies.
The Program will be implemented in accordance with the resolution adopted by the Shareholders’ Meeting of the Company held on 8 April 2021, which authorized the Board of Directors to acquire, through one or more transactions, a maximum number of shares making up the capital of the Company which when added to the treasury shares already held by Campari, it will not exceed the legal limit for a period
of 18 months from April 8, 2021 to October 8, 2022. The authorization also provided that the purchases take place for a minimum price, excluding expenses, equal to the nominal value of the Campari shares and a maximum price equal to an amount of 5 % higher than the average closing price of Campari shares over the period of 5 days preceding the day of purchase of the shares.
The Program starts on 7 March 2022 and will end no later than 11 April 2022, the day before the one on which the annual shareholders’ meeting is convened and will be implemented (also in relation to the volume of shares to be purchased) in compliance with all laws. and applicable regulations.
The maximum amount will be equal to 40,000,000 euros for a maximum number of 10,000,000 shares to be purchased.
In addition, the Program will be coordinated by UBS Europe SE, which will purchase Campari shares independently of the Company at the most appropriate time and price (in any case, within the limits established by the Authorization and by all applicable laws and regulations).
As of 7 March 2022, Campari holds 31,504,618 treasury shares, equal to 2.71% of the ordinary share capital, and no legal entity controlled by Campari holds Campari shares.
In Piazza Affari, the day of March 7 closes flat for the company active in the beverage sectorwhich reports a small -0.04%.