• 2017 October 26 11:00

    FINCANTIERI to initiate the share buyback program

    FINCANTIERI S.p.A. announces that, on 30 October 2017, it will initiate the share buyback program in service of FINCANTIERI’s “Performance Share Plan 2016 – 2018”, to be executed in compliance with art. 5 of Regulation (EU) n. 596/2014, as well as the Shareholders’ Meeting resolution of 19 May 2017, the company said in its press release.
     
    In line with the above mentioned resolution, FINCANTIERI states that:

     purchases will be carried out on the Borsa Italiana, Bats, Chi-X and Turquoise trading venues, through an authorized intermediary which will operate with full independence and without being influenced in any way by FINCANTIERI with regards to the timing of purchases, respecting the modes and limitations set forth in the Shareholders’ Meeting resolution authorizing the repurchase of shares, as well as in compliance with art. 5 of Regulation (EU) n. 596/2014 and art. 2 and 3 of Delegated Regulation (EU) n. 1052/2016 and all other applicable Italian and European laws;

     the Program’s total cash-out will amount to 5,200,000 Euro;

     in any case, the maximum number of shares purchased will not exceed n. 50,000,000 ordinary shares, corresponding to 2.95% of total share capital, entirely dedicated to the “Performance Share Plan 2016 – 2018” incentive plan;

     purchases will be effected in compliance with art. 3, c. 2 of Delegated Regulation (EU) n. 1052/2016. In particular, the article mandates that shares may not be purchased at a price higher than the higher of (i) the price of the last independent trade and (ii) the highest current independent purchase bid on the Trading Venue where the purchase is carried out. In addition, in compliance with the Shareholders’ Meeting resolution authorizing the Program, shares will not be purchased at a price that is 10% higher or lower than the reference price of the immediately preceding business day on the Trading Venue where the purchase is carried out;

     the amount of shares purchased will not exceed 25% of the average daily volume of the shares on the Trading Venue on which the purchase is carried out, provided that this average daily volume is calculated over the 20 business days preceding the date of purchase;

     all purchases will be effected by 30 November 2017.
     
    In compliance with art. 5, c. 1(b) and 3 of Regulation (EU) n. 596/2014 and art. 2, c. 2 and 3 of Delegated Regulation (EU) n. 1052/2016, Fincantieri will communicate to CONSOB and the market, in both aggregate and extensive form, also on its website, the details of the share purchases carried out under the Program, as prescribed by all applicable regulations.
     
    To date, Fincantieri does not hold any of its own shares.




2020 February 26

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