(Finance) – Starting from Monday 13 November, the share buyback programmeOf Mediobancaauthorized by the Ordinary Shareholders’ Meeting of 28 October last and by European Central Bank last October 20th.
The purchasing program it will cover maximum no. 17,000,000 ordinary shares (equal to approximately 2% of the share capital) and which, in any case, cannot exceed 200 million euros in total outlay, has multiple purposes: it is part of the 2023-26 Plan by encouraging the growth of earnings per share as a result of their subsequent cancellation and is also functional for financing potential external growth operations through acquisitions; the shares purchased may, as in the past, be used for existing and future compensation plans based on financial instruments for the benefit of Group personnel.
Purchases will be made exclusively on regulated markets.
The volume of shares purchased on any trading day will not exceed the lesser of 25% of the daily volume of shares on the trading venue where the purchase is made and the average daily volume for the month of October 2023. No purchase transactions may take place at a price higher than the highest price between the price of the last independent transaction and the price of the highest current independent purchase offer on the trading venue where the purchase is made. Furthermore, the purchase price cannot deviate more than 10% lower or higher than the reference price that the security will have recorded in the stock exchange session of the previous day, except in exceptional circumstances linked to market volatility conditions.
The purchases may take place on one or more occasions in compliance with the regulations and will be carried out within the limits of the distributable profits and available reserves resulting from the latest approved financial statements and in any case in compliance with the ECB authorisation.