Buzzi SpA announces the start of a share buyback program pursuant to the authorization passed at the Shareholders’ Meeting today. Under such program the company may repurchase up to a number of shares which, taking into consideration the ones held from time to time in treasury by the company and its subsidiaries, does not overall exceed the maximum limit established by the applicable pro tempore regulations, for a maximum amount of €200 million.
The share buyback is aimed at giving the company an instrument for liquidity investment, as well as a so-called “securities portfolio” which may be useful as consideration in possible extraordinary transactions, like equity interest swaps or conversion of bonds of possible future issuance, or distribution, for a consideration or without consideration, to directors and employees of the company or its subsidiaries as well as for free assignment to the shareholders. 

The share buyback program will be accomplished within the terms resolved upon at the Shareholders’ Meeting held today and disclosed to the market by the press release issued on the same day, starting from 10 May 2024, and is expected to end by June 2025. Il should be noted that the authorization by the Shareholders' Meeting is valid for 18 months starting from 9 May 2024.

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 on the Euronext Milan market. 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 laws and regulations applicable to this type of transaction and, in any case, with the operational procedures set out in Article 5 of regulation (EU) no. 596/2014 and Delegated regulation (EU) no. 1052/2016.
UBS has been entrusted with the execution of the buyback program and will operate with full independence.

In any case, the unit purchase price per share will range from a minimum per share no less than 10% and to a maximum per share no more than 10% compared to the reference price of the ordinary share recorded in the stock market session of the day before the completion of the purchase transaction.

As of today the company owns 7,494,316 treasury shares, corresponding to 3.891% of the share capital.

The transactions carried out will be disclosed to the market in accordance with the terms and procedures set forth in the current regulatory framework.

Company contacts:
Investor Relations Assistant
Ileana Colla
Phone. +39 0142 416 404
Email: ileana.colla@buzzi.com