Following the authorization of the AGM of shareholders to purchase and use own shares of April 13, 2022, as previously announced to the market, the Board of Directors of BasicNet SpA approved the launch of the relative plan.
The program aims to – while always ensuring equal treatment of Shareholders and in compliance with the applicable regulations – to provide the Company with a support instrument for projects developed on the strategic orientations in which opportunities for exchange or sale of shares or as collateral for financing transactions, or for any other use increasing the value of the Company, all within the limits of applicable regulations and, where applicable, market practices endorsed by the competent supervisory authority, in accordance with Article 13 of Regulation (EC) No 596/2014 (“MAR”). The own share buyback program, in accordance with the proposal of the General Meeting of Shareholders, will end on the date of the General Meeting of Shareholders for the approval of the 2022 annual accounts, or however by reaching the maximum amount of 14 million euros or a number of shares whose nominal value, taking into account those already held by the Company, does not exceed the legal limits.
The Board of Directors has decided to continue the purchase of shares on “Euronext Milan” organized and managed by Borsa Italiana SpA, in compliance, as decreed by the Consob, with the applicable regulations. Purchases will be made at a unit price not exceeding 15% above or below the price of the listed share at the end of the trading session preceding each operation.
The transactions carried out are communicated to the market according to the terms and conditions set by the applicable regulations. Any transfer will be approved on a case-by-case basis by the Board of Directors. Depending on the purposes pursued, with regard to the terms, means and conditions of use of own shares, timely information will be provided.
To date, the company holds 10,180,000 treasury shares, or 16.69% of the share capital.
Basic Net SpA published this content on April 14, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on April 14, 2022 07:44:09 UTC.