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Servizi Italia SpA Announces Beginning of Treasury Share Purchase as Approved by Shareholders' Meeting


Wednesday, 23 Oct 2013 12:19pm EDT 

Servizi Italia SpA announced that the Board of Directors held on October 21, 2013 approved the beginning of the treasury shares purchase and sale program, as resolved by the Shareholders' Meeting on April 22, 2013. The purchase plan responds to the need of investment opportunities for the Company's liquidity and the possibility of using them for strategic operations within the limits permitted by market practices. It will run for a maximum of 18 months from April 22, 2013 - the date of approval by the Shareholders' Meeting. The maximum number of shares which may be purchased under the program approved by the Board of Directors on October 21, 2013 (without exceeding the 20% of the share capital) is 5,095,175 ordinary shares, equal to 18.74% of the share capital. The purchase of shares will be made for a maximum capacity to the extent that can be found in the distributable profits and available reserves as they result from the last approved Financial Statement. The purchase of treasury shares will be undertaken on the market at a minimum or maximum purchase price neither above nor below 20% of the weighted average official price recorded in the last 3 days before each operation. 

Company Quote

4.916
-0.048 -0.97%
10:59am EDT