Treasury shares (IR)

EQUITA approves the launch of the first tranche of the first tranche of the Buyback Programme to purchase maximum 300,000 shares

Milan, November 9th, 2023

EQUITA Group S.p.A. (“EQUITA” or the “Company”) – following the today’s resolution of the Board of Directors – announces the launch of the first tranche of its buyback programme for a maximum of No. 300,000 shares (the “First Tranche of the Buyback Programme”).

The programme was authorised on 20 April 2023 by the Shareholders’ Meeting and on 21 September 2023 by the Bank of Italy. To execute the First Tranche of the Buyback Programme, the Company has appointed Mediobanca – Banca di Credito Finanziario S.p.A. (the “Appointed Intermediary”) as qualified third-party broker. The Appointed Intermediary will act independently on the market, also in relation to the timing of the transactions and in compliance with the daily price, volume limits and general terms of the programme.

The main features of the First Tranche of the BuyBack Programme are the following:

  • Purpose: allow the Company to:
    • i. execute incentive plans or programmes based on financial instruments (stock options, stock grants, performance shares, convertibles, etc.), either free-of-charge or paid-in, in favour of employees and partners;
    • ii. award shares to employees, partners and managers to incentivise and increase retention, and/or attract new professionals;
  • Maximum number of shares and total consideration: No. 300,000 ordinary shares (equal to approximately 0.6% of the share capital as of today), for a maximum total consideration of €1,260,000;
  • Duration: starting from 9 November 2023 to 20 October 2024, the latter corresponding to the end of the 18-month period starting from the approval of the Shareholders’ Meeting (20 April 2023); the First Tranche of the Programme can be priorly terminated, executed partially, suspended or cancelled at any time;
  • Minimum and maximum price: the purchases will be executed by the Appointed Intermediary within the limits set out by applicable regulation; in any case, the purchase price cannot diverge downwards or upwards by more than 20% from the official price recorded by EQUITA Group shares on Euronext Milan the trading day before the purchase transaction;
  • Market: transactions will be executed on Euronext Milan, STAR segment, organised and managed by Borsa Italiana S.p.A..

Purchases will be disclosed to the market in accordance with the terms and conditions set forth by applicable law and regulation. For further details, please refer to the Board of Directors’ explanatory report and the resolution of the 2023 Shareholders’ Meeting about the buyback proposal (Corporate Governance section, Shareholders’ Meeting area of the Company’s website).

As of today, the Company owns No. 3,202,427 treasury shares, equal to approximately 6.2% of the share capital and 4.5% of the total voting rights.

 

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Launch of the first tranche of the buyback programme