(Tiper Stock Exchange) – Eni communicated that, following the authorization of the Shareholders’ Meeting, in the coming days will launch the first tranche of the treasury share buyback programme up to a maximum of 62 million shares (approximately 2% of the share capital), for a maximum outlay of 1 billion euros and with the aim of establishing a “stock warehouse” which can be used in the context of any extraordinary finance operations, such as, for example, issues of convertible bond loans.
The buyback programme, which will be implemented over 12 months, will amount to a total of 2.2 billion euro. Such
the amount may be increased, on the basis of any upsides, up to a total maximum of 3.5 billion euro.
Therefore, downstream of the First Tranche, Eni says, a further purchase phase will be launched to complete the overall buyback plan envisaged.