Relatech S.p.A. commences an Equity Buyback Plan for ?1 million worth of its shares, under the authorization approved on April 27, 2023.
August 27, 2023
Share
Relatech S.p.A. (BIT:RLT) commences share repurchases on August 21, 2023, under the program mandated by the shareholders in the meeting held on April 27, 2023. As per the mandate, the company is authorized to repurchase up to 3,131,781 shares, representing 7% of its issued share capital, such that the company?s holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital at any point of time for ?1 million. The share repurchase price per share must not be more than 30% lower or higher than the official stock exchange price registered by Borsa Italiana S.p.A. in the session preceding each individual transaction. The company will repurchase its shares in order to incentivize and build loyalty for its employees, collaborators, directors, subsidiaries and/or other categories of subjects chosen at the discretion of the Board carry out transactions such as the sale and/or exchange of own shares for the acquisition of shareholdings and / or properties and / or the conclusion of agreements with strategic partners, of Directors, carry out subsequent operations for the purchase and sale of shares, to set up a securities warehouse, useful for any future extraordinary finance operations and to take opportunities to make good investments, also in consideration of the risk and expected return of alternative investments. The authorization is valid for 18 months. As of April 27, 2023, the company had 43,352,973 shares in issue (Excluding treasury) and 1,337,240 shares in treasury.
On July 27, 2023, the company announced a share repurchase program. under the program, the company will repurchase shares worth ?1 million. The purpose of the program, is to incentivizing and retaining employees, collaborators, directors of the Company, subsidiaries , constitute a so-called 'securities warehouse', useful for possible future extraordinary finance transactions and carry out transactions such as the sale and/or exchange of treasury shares for acquisitions of participations and/or real estate and/or the conclusion of agreements with strategic partners. The program will be valid till 18 months from the passing of buyback resolution.
Relatech SpA is an Italy-based company that provides digital solutions through RePlatform, its cloud-based customizable platform. The Company operates through its subsidiaries, which represent also its segments: Relatech and Ithea. Relatech provides solutions for the digitization of companies focusing on digital customer experience, artificial intelligence (AI) and bigdata analytics, Internet of things (IoT) and Industry 4.0 and cybersecurity and blockchain. Its offering includes solutions, projects, services and personalized consultancy. Ithea covers the research and development activities of the group applying the results of scientific research in the fields of new technologies and data management for commercial purposes, through the provision of consulting services and product development. The Company participates in research activities in partnership with universities and research centers.