Treasury shares - buyback plan
Treasury share buyback plan, which the shareholders authorized at the ordinary general meeting on 28 October 2023 to give the bank strategic and operational flexibility
On 13 November 2023 a share buyback was launched, as authorized by the shareholders of Mediobanca as ordinary business at the Annual General Meeting held on 28 October 2023, and by the European Central Bank on 20 October 2023. The current estimated value of the buyback is around €200m, and the shares acquired will be in addition to the 8.5 million treasury shares already owned by the Banks:
- Up to 17 million shares to be bought (2% of the share capital);
- Up to 17 million shares to be cancelled;
- Total amount of treasury shares to be held will be up to 3% of the share capital, for use in connection with the performance share schemes, for possible acquisitions and/or to be cancelled.
This scheme represents the first tranche of the new buyback programme envisaged in the BP2023-26 for a total amount of €1bn in three years.
For current data on shares go to Corpoate data.
