Buzzi Unicem starts the buyback program
Buzzi Unicem SpA announces today the start of the share buyback program pursuant to the authorization passed at the Shareholders’ Meeting on 10 May 2018. Under such program the company may repurchase up to 7 million ordinary and/or saving shares.
The share buyback is aimed at giving the company an instrument for liquidity investment. The authorization is also aimed at allowing the company to use treasury shares as a payment in extraordinary transactions, also of equity interest swap or of conversion of bonds already issued or of possible future issuance, or for distribution, for a consideration or without consideration, to directors and employees of the company or its subsidiaries as well as for allocation to shareholders without consideration.
The share buyback program will be accomplished within the terms resolved upon at the Shareholders’ Meeting of 10 May 2018, disclosed to the market by the press release issued on the same day, for 18 months starting from the above mentioned 10 May 2018.
The shares will be repurchased in accordance with one of the operating methods set forth under article 144-bis, paragraph 1 of CONSOB regulation no. 11971/1999. Any buybacks executed on the market will be carried out in accordance with the methods established by Borsa Italiana SpA, which does not permit the direct combination of offers to buy with predetermined offers to sell. The program will comply with the market practices allowed by CONSOB according to resolution no. 16839 adopted on 19 March 2009 and pursuant to laws and regulations applicable to this type of transaction.
As of today the company owns 50,000 ordinary shares and 29,290 saving shares, corresponding in aggregate to 0.04% of the entire share capital.
Investor Relations Assistant
Phone. +39 0142 416 404