(Finance) – Following the shareholders’ resolution of authorization for the purchase and disposal of treasury shares assumed on 13 April 2022, the Board of Directors of BasicNet resolved to proceed with the launch of the related plan.
The program has the purpose, always in compliance with the equal treatment of Shareholders and the current legislation on the matter, to provide the Company with a useful tool in the context of projects consistent with the strategic lines that the Company intends to pursue, in relation to which the opportunity of exchanging or selling share packages becomes concrete, or placing them as collateral in the context of financial transactions, or for any other use useful to increase the value of the Company, all within the limits established by current legislation and, where applicable, in accordance with market practices accepted by the supervisory authority in force at the time.
The buy-back program will terminate on the date of the Shareholders’ Meeting called to approve the financial statements at 31 December 2022 or in any case upon reaching the maximum countervalue of 14 million euros or a number of shares whose nominal value, taking into account those already held by the Company, does not exceed the legal limits.
The purchases will be made at a unitary consideration that cannot deviate, neither decreasing nor increasing, by more than 15% compared to the closing price recorded by the stock in the trading session preceding each single transaction.
As of April 14, the Company holds a total of 10,180,000 treasury shares, equal to 16.69% of the share capital.
Meanwhile, in Milan, the performance of Basicnet with prices aligned at 6.2 euros.