(Finance) – Drums Investment Partners announced, on April 28, 2022, that it had concluded the plan for the purchase of treasury shares approved by the Shareholders’ Meeting on April 29, 2021with the overall purchase of 2,487,079 shares.
On April 28, 2022 TIP announced that it intends execute a share buyback program up to a maximum of a further 7,000,000 shares to be carried out by 30 April 2023.
This purchase program has the following purposes:
– the sale and / or exchange of treasury shares with a view to or as part of agreements with strategic partners that are part of the Company’s development strategy;
– the execution of investment operations consistent with the strategic lines of the Company, including through the exchange, exchange, share swap, contribution, sale or other deed of disposal of treasury shares for the acquisition of shareholdings or share packages or other extraordinary finance operations that involve the assignment or disposal of treasury shares (such as, by way of example, mergers,
incorporations, demergers, issuance of convertible bonds or warrants, etc.);
– implementation of incentive plans based on TIP shares in favor of directors and / or employees of the Company;
– in the event that it is not necessary to use all the treasury shares for the purposes indicated above, the shares may be used for operations to support the liquidity of the market, so as to facilitate trading on the securities themselves in times of low liquidity on the market and favor the regular course of trading.
As of April 28, 2022, Tamburi holds 16,112,014 treasury shares, equal to 8.739% of the share capital.
In Piazza Affari, today, new bullish point for Drumswhich earns well and brings home a + 1.63%.