(Finance) – Ternaoperator of the electricity transmission networks listed on Euronext Milan, announced that on May 27, a share buyback program will be launched, for a maximum outlay of 10 million euro and for a number of shares not exceeding 1.95 million (representing 0.10% of the share capital). Purchases of treasury shares will be made by June 27, 2022. For the purposes of its execution, Terna today conferred a specific mandate on BNP Paribas Exane.
The program serves the 2022-2026 Performance Share Plan intended for management and / or any other share incentive plans. The buyback also includes a reward / penalty mechanism linked to the achievement of specific environmental, social and governance objectives (ESG).
As of today, the the company holds 3,095,192 treasury shares, equal to 0.154% of the share capital. The subsidiaries do not hold Terna shares.