Generali starts a share buyback for the Share Plan for Group employees
13 March 2020 - 07:55
Trieste - Assicurazioni Generali S.p.A. starts a share buyback for the Share Plan for Generali Group employees, implementing the resolution of the Shareholders' Meeting of 7 May 2019 that has authorised the purchase and disposal of a maximum of 6 million of treasury shares until 7 November 2020.
Generali entered into a buyback agreement whereby Credit Suisse will act as intermediary. The intermediary in charge will proceed with the purchase of the shares in full independence, in compliance with the parameters and criteria set out in the agreement, as well as the applicable regulations and the shareholders' resolution. The agreement provides for the repurchase of maximum 6 million Generali shares from 16th March until 11th May 2020: the minimum purchase price of the shares may not be lower than the par value of the share, equal to Euro 1, while the maximum purchase price may not exceed 5% of the reference price recorded by the share during the stock exchange session on the day prior to the completion of each individual purchase transaction.
The purchase transactions will be carried out exclusively on the Mercato Telematico Azionario ("MTA"), pursuant to article 144-bis, paragraph 1, letter b) and c) of the CONSOB Issuers' Regulations and in force of any applicable laws and regulations, thus in accordance with the operating procedures established by the regulations governing the market organisation and management, so as to ensure that all shareholders are treated equally and to fulfil with all public information requirements.
Generali will disclose to the market, in accordance with the provisions in force, the details of any purchase transactions carried out.