INDEL B S.P.A. Indel B S.p.A. (BIT:INDB) commences a share repurchases on June 20, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 31, 2023. As per the mandate, the company is authorized to repurchase up to ?2.6 million worth of its shares or any different maximum amount as may be envisaged by law in force at the time. The repurchases will be made such that the holding of treasury shares in the company do not exceed one fifth of the company's share capital.
The repurchase price shall be made for a unitary price, no less and no more than 10% with respect to the official stock market price of the shares recorded by Borsa Italiana S.p.A. in the session prior to each individual transaction and in any case in compliance with the terms and conditions set out by applicable national and European Community legislation and admitted market practices in force at the time. The purpose of the program is to implement equity incentive plans, to allow the use of treasury shares in operations connected to core management or projects consistent with the strategic lines that the Company intends to pursue, to use shares as an investment object for efficient use of the liquidity generated by core business (if possible) and to intervene, in compliance with the provisions in force, also through intermediaries, to contain anomalous movements in prices and to regularize the performance of negotiations and prices (if possible and provided for by the applicable legal and regulatory provisions). The purchase authorization is granted for 18 months from the date of the shareholders' resolution.
As of May 31, 2023, the company had 199,417 shares in treasury.
