Orsero S.p.A. ("Orsero" or the "Company") announces the launch of a further share buyback program in accordance with the resolutions adopted by the Ordinary Shareholders' Meeting held on April 26, 2023. This program, like the previous ones, represents a strategic investment opportunity for any purpose permitted by current legislation.
The share purchases under the program will be carried out in compliance with the equal treatment of shareholders and in accordance with the terms and operational limits set forth in the aforementioned resolution, Article 5 of Regulation (EU) No. 596/2014 ("MAR"), in compliance with the practices allowed under Article 13 of MAR and, in general, with the applicable general and sector-specific regulations, namely: - subject to legal limits, the purchases will involve a maximum total of 140,000 Orsero shares, without indication of their nominal value, for a maximum total value of ?2,000,000.00; - purchase methods on the regulated market pursuant to Article 144-bis, paragraph 1, letter b) of Consob Regulation 11971/1999 and any other applicable provisions, in such a way as to ensure equal treatment of shareholders as provided for in Article 132 of Legislative Decree No. 58/1998, taking into account the trading conditions referred to in Article 3 of Delegated Regulation (EU) 2016/1052 ("Regulation 1052") implementing MAR; - the purchases will be made at a price that is not higher than the higher of the independent last transaction price and the current highest independent purchase offer price on the trading venues where the purchase is made, provided that the unit price is not lower than 20% and not higher than 10% above the arithmetic average of the official prices recorded for Orsero shares on the Euronext STAR Milan market, organized and managed by Borsa Italiana S.p.A., in the ten trading days preceding each individual purchase transaction; - the purchases will be made in volumes not exceeding 25% of the daily average volume of Orsero shares on the trading venue where the purchase is made, based on the daily average volume of trades in the 20 trading days preceding the purchase date; - the share buyback program will commence on October 11, 2023, and will last until November 30, 2023.
The Company has appointed Intesa Sanpaolo S.p.A. to implement the share buyback program. As of the date of this announcement, Orsero holds 616,245 of its own shares, representing 3.49% of the share capital. Orsero's subsidiaries do not hold any shares in the parent company. The Company will fulfill the legal reporting requirements regarding the share purchases made under the share buyback program.
(NEWS Traderlink)