(Tiper Stock Exchange) – Basic Net announced that April 13 is concluded The plan of purchase of treasury shares approved by the Shareholders’ Meeting on 30 May 2022, having purchased 619,502 shares, at an average price of 5.46 euros, for a total outlay of 3.4 million euros.
Following the resolution of the shareholders’ meeting to authorize the purchase and disposal of treasury shares of April 13, 2023, the Board of Directors of BasicNet resolved to proceed with thelaunch of the relevant plan.
The purpose of the program is to: have a portfolio of treasury shares to be used as consideration in the context of any future extraordinary transactions with third parties, or by constituting them as guarantee in the context of financial transactions; remunerate shareholders in particular market situations; seize opportunities for value creation, as well as efficient use of liquidity in relation to market trends.
The purchase, which can be carried out in one or more tranches, may concern a maximum number of treasury shares equal to 20% of the share capital, for a maximum value of 30 million euros, in compliance with all legal limits and taking into account of treasury shares already held to date.
As of April 13, BasicNet held a total of 4,007,400 treasury shares in its portfolio, equal to 7.4% of the share capital.
Meanwhile, in Milan, the performance of the Group that operates in the clothing, footwear and sports accessories sectorwhich stands at 5.77 euros, a slight increase of 0.87%.