Snam to continue with share buyback
San Donato Milanese (Milan), 2 October 2018 – Snam continues the share buy-back pursuant to the resolution of the Shareholder Meeting on 24 April 2018 as previously communicated to the market.
Snam has signed an enhanced buyback agreement with a primary intermediary, under which the intermediary in charge will proceed to the possible purchase of Snam shares in full independence, in compliance with the contractual provisions and obligations, as well as the applicable laws and the above mentioned resolution. The maximum maturity of the contract is 20 December 2018.
Possible purchases will be made on the MTA market, in compliance with Art. 144-bis, paragraph 1, comma b) of Consob Regulation 11971/1999 and other applicable provisions, in order to respect the equal treatment of shareholders pursuant to art. 132 of the Consolidated Finance Act (T.U.F.), as well as according to the operating procedures established in the regulations for the organization and management of the Italian Stock Exchange S.p.A.
Snam will communicate to the market, under current provisions, the details of any purchases made.
At present, Snam holds in its portfolio 132,246,380 treasury shares equal to 3.81% of the share capital. Snam subsidiaries do not own shares in the Company.
02 October 2018 - 18:45 CEST