Eni launch the second tranche of share buyback program
01 September 2023 - 9:57 AM CEST
San Donato Milanese (Milan), 1 September 2023 - Eni announces that, in line with the authorization of the Shareholders' Meeting held on 10 May 2023, in the next days it will launch the second tranche of the share buyback program (the "Second Tranche"), which follows a first tranche of purchases executed between 12 May 2023 and 24 August 2023 with the purchase of 62 million shares for an amount of €825 million.
The Second Tranche will concern the purchase of Eni’s shares up to a total maximum of €1.375 billion and for a maximum number of 275 million shares (approximately 8% of share capital) by no later than April 2024. This tranche will have the purpose of paying Eni’s shareholders further remuneration with respect to the distribution of dividends; therefore, treasury shares purchased in the context of the Second Tranche will be cancelled without a nominal reduction of the share capital, pursuant to the resolution of the Shareholders' Meeting held on 10 May 2023.
Purchases will be executed on the Euronext Milan through an authorized agent, who will act independently, also in relation to the timing of transactions and will be disclosed to the market in accordance with the terms and conditions set out in the laws and regulations in force.
As illustrated in the Capital Markets Update on 23 February 2023, Eni confirms its share buyback program for a total amount of €2.2 billion by the end of April 2024.
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