Treasury Share Buy-Back and Cancellation Plan – Favourable response from CONSOB
Milan, 9 June 2023 – With reference to the treasury share buy-back and cancellation plan, communicated by INWIT on 2 March 2023, for an amount of up to 300 million euros, INWIT S.p.A. announced on 18 April 2023, following the Ordinary and Extraordinary Shareholders’ Meeting, that the effectiveness of the resolution to cancel the treasury shares and, consequently, also of the resolution to buy-back treasury shares for the purpose of cancelling them – both approved with the majorities provided for by art. 44-bis, subsection 2, of Consob Regulation No. 11971/1999 (so-called whitewash) – was subject to the favourable response of Consob regarding the applicability of the whitewash exemption to the cancellation.
The Company announces that, with communication prot. no. 0054917/23 of 8 June 2023, Consob expressed a favourable response and that, as a result, the aforementioned condition of effectiveness of the resolutions has been met.
The Company has been supported by White & Case LLP.