Equita SIM S.p.A. is the qualified intermediary entrusted with theexecution of the program
Milan, 15 March 2022 – CIR S.p.A. – Compagnie Industriali Riunite (“CIR“or the “Company“) announces that the buyback plan of itstreasury shares (the “Buyback Plan”), approved by the Board of Directorson 11 March 2022, in accordance with and in execution of the authorization given by the Shareholders’ Meeting of 30 April 2021, will start on 16 March 2022.
The Company has entered into a “contract for market operations in execution of the share buy back resolution” with Equita SIM S.p.A., which will therefore act as the qualified intermediary to proceed with the purchase of the treasury shares under the Buyback Plan. The qualified intermediary will take decisions on the purchases in full autonomy, even in relation to the timing of the transactions and in compliance with the price limits set by the Board of Directors and the Shareholders’ Meeting.
The Buyback Plan, as resolved upon by the Board of Directors of the Company on 11 March 2022, involves the buyback of a maximum of 50,000,000 shares of CIR (equal to approximately 3.9% of its share capital) for a maximum amount of €17.0 million. For further details on the Buyback Plan, refer to the press release of 11 March 2022.
The details of the transactions carried out under the Buyback Plan will be communicated to the market in the terms and following the procedures set out in the rules and regulations in force at the time.
As of today, CIR holds 179,424,975 treasury shares, representing 14.05% of the total number of shares that make up the Company’s share capital. The subsidiaries of CIR do not own any Shares in the Company.