(Finance) – The Board of Directors of Camfin unanimously resolved to renew the authorization to purchase shares Pirelli – or financial instruments that give the right to purchase such shares – up to a maximum of 5% of the capital.
The authorization follows that previously communicated by the Company to the market in the context of which the financial instruments called “Call Spread” were subscribed with leading banking institutions, which expired on September 15th and have as underlying ordinary Pirelli shares equal to the expiry date , to approximately 4.7% of the share capital.
With this renewal, Camfin confirms its full confidence in the abilities of Pirelli management to successfully achieve the Group’s objectives.
The shareholding held by Camfin to date therefore remains equal to 14.096% of the relevant share capital, it being understood that any purchases, which can be made within one year from today’s date, will be communicated in compliance with current legislation.
(Photo: © vladimir razgulyaev / Dreamstime)