Equita announces the launch of the first tranche of the Buy-back Programme to purchase maximum 300,000 shares
Milan, 20 July 2022
Equita Group S.p.A. (“Equita” or the “Company”) announces that following the resolution of the Board of Directors of last 14 July 2022, on 21 July 2022 the Company will start the first tranche of its buy-back programme to purchase maximum 300,000 shares (the “First Tranche of the Buy-back Programme”).
For the purpose of the execution of the First Tranche of the Buy-back Programme – and more in general, for the execution of the program that was approved by the Shareholders’ Meeting on 28 April 2022 and by the Bank of Italy on 12 July 2022 – the Company has appointed Mediobanca – Banca di Credito Finanziario S.p.A. (the “Appointed Intermediary”) as qualified third-party broker. The Appointed Intermediary will decide on the share purchases in full independence, also in relation to the timing of the transactions and in compliance with the daily price and volume limits and the terms of the programme.
The First Tranche of the Buy-Back Programme has the following features:
- Purpose: allow the Company to:
- 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;
- award shares to employees 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 €1,800,000;
- Duration: pursuant to Article 2357 of the Italian Civil Code, the purchases will take place from 21 July 2022 to 28 October 2023, the latter corresponding to the end of the 18-month period starting from the approval of the Shareholders’ Meeting (28 April 2022); the purchases 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: purchases 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 regulations. For further details, please refer to the Board of Directors’ explanatory report and the resolution of the Shareholders’ Meeting 2022 on the buy-back proposal (Corporate Governance section, Shareholders’ Meeting area).
As of today, the Company owns no. 4,039,802 treasury shares, equal to approximately 8.0% of the share capital and 5.6% of the total voting rights.
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