BAKU, Azerbaijan, March 18
By Leman Zeynalova - Trend:
Italy’s Saipem company to date holds 22,658,285 treasury shares representing 2.241 percent of the share capital, Trend reports citing the company.
Saipem S.p.A. informs that it has completed the buy-back program for Saipem ordinary shares approved by the Shareholders’ Meeting on April 30, 2019, which concerned the buy-back of the company’s own shares to cover the 2019 allocation of the 2019-2021 Long-Term Incentive Plan, as approved by the Shareholders’ Meeting on April 30, 2019.
Over the period March 13th –17th, 2020 (inclusive), a total of no. 7.934.080 treasury shares (representing 0.785 percent of the share capital) were bought back, corresponding to the number indicated by the Board of Directors at their meeting of October 23, 2019. All buy-back transactions were made on the regulated Computerized Trading Market MTA at an average price of Euro 2.0775 per share, for a total counter-value of Euro 16,505,959 (fees and taxes included).
Accordingly, having regard for the other treasury shares already held at the start of the Program (no. 14,724,205 shares, representing 1.46 percent of the share capital) and the treasury shares purchased under the Program, at today's date Saipem holds 22,658,285 treasury shares representing 2.241 percent of the share capital.
Saipem is a leading company in engineering, drilling and construction of major projects in the energy and infrastructure sectors. It is “One-Company” organized in five business divisions (Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling and XSIGHT, dedicated to conceptual design). Listed on the Milan Stock Exchange, it is present in over 70 countries worldwide.
Follow the author on Twitter: @Lyaman_Zeyn