Launch of a first tranche of Inwit share buyback up to 150 million euros, under the authorised 300 million euros share buyback
Rome, 14 June 2023 – INWIT, Infrastrutture Wireless Italiane S.p.A., announces that, following the authorisation granted by the shareholders’ meeting held on 18 April 2023 (“Shareholders’ Meeting”) and clearance from Consob, it will launch an initial tranche of its share buyback (the “First Tranche“) on 15 June 2023 which is expected to complete no later than 15 March 2024.
As outlined in the press release of 18 April 2023, the Shareholders’ Meeting authorised the Board of Directors to repurchase a maximum of no. 31,200,000 shares up to 300 million euros within 18 months from the date of the Shareholders Meeting.
The First Tranche will be for up 150 million euros and will be carried out pursuant to the terms and conditions of the Shareholders’ Meeting authorisation.
The buyback will serve the sole purpose of cancelling the relevant shares with the main aim of offering to non-selling shareholders an indirect return on their investment in the Company, in addition to the dividend policy.
The purchases will be executed on the Euronext Milan as well as multilateral trading facilities through Goldman Sachs International, as a third-party intermediary, 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 of the date hereof, Inwit holds 258,105 treasury shares, equal to approximately 0.03% of its share capital. Inwit subsidiaries do not own Company’s shares.