(Finance) – Credem communicated thelaunch of a share buyback program in execution of the resolution of the Ordinary Shareholders’ Meeting of 28 April 2022.
The purpose of the program is to purchase Credito Emiliano ordinary shares to cover instrument-based compensation plans
financial to be allocated to the category of executives with strategic responsibilities and “key personnel” of the banking group, approved by the ordinary Shareholders’ Meeting in compliance with current legislation.
The purchase may involve a number maximum from 1,500,000 shares (equal to approximately 0.44% of the share capital), which can be purchased at maximum unit price of 8.5 euros. The purchases will be made within the limits of distributable profits and available reserves resulting from the latest approved financial statements.
The authorization to purchase treasury shares is valid for a period of 18 months starting from 28 April 2022, the date of the shareholders’ resolution.
On the Milanese price list, today, in sharp decline Credemwhich closed the session with a -4.64%.