Buzzi Unicem SpA commences an Equity Buyback Plan for 7,000,000 shares, for €210 million under the authorization approved on May 10, 2018.
September 23, 2018
Share
Buzzi Unicem SpA (BIT:BZU) commences share repurchases on September 19, 2018 under the program mandated by the shareholders in the Annual General Meeting held on May 10, 2018. As per the mandate, the company is authorized to repurchase maximum up to 7,000,000 ordinary and/or savings shares for maximum up to €210 million. The shares will be repurchased at a minimum price of €0.60 per share and a maximum price of €18 for savings shares and of €30 for ordinary shares, or at the highest price allowed by the market general rules approved by Commissione Nazionale per le Società e la Borsa, in case these rules were adopted by the company. The shares will be repurchased to be used as a payment in extraordinary transactions or to be used as interest swap or of conversion of bonds already issued or of possible future issuance, or for distribution, for a consideration or without consideration, to directors and employees of the company or its subsidiaries as well as for allocation to shareholders without consideration. The plan will be valid for 18 months up to November 10, 2019. As on May 10, 2018, the company had 50,000 ordinary shares and 29,290 savings shares in its treasury.
Buzzi SpA, formerly known as Buzzi Unicem SpA, is an Italy-based company engaged in the manufacture of construction materials. The Company is primarily active in the production, distribution, and sale of cement, ready-mix concrete, and natural aggregates. The Companyâs operations are located in Italy, the United States, Germany, Luxembourg and the Netherlands, Poland, the Czech Republic and Slovakia, Ukraine, Russia, Mexico, Brazil, and Algeria. The three main geographical area with the higher generation of revenues are: the United States, Germany, and Mexico. The Firm is also engaged in the activity of Research and Development with the aim of developing and experimenting innovations to be used in the production chain and for their products. This activity is performed in cooperation with national research centers, universities, and private laboratories.
BUZZI S.P.A. 
