The shareholders' meeting of Salini Impregilo gave the green light to the operation by majority vote buyback up to 10% of the capital resolved in August by the Board of Directors. Reading the shareholders' register, it emerged that Salini Costruttori holds 63,04% of the capital and that no other shareholder exceeds the relevant threshold of 2%. 70,78% of the ordinary share capital was present at today's meeting.
In the wake of the news, just over an hour after the closing, the Salini Impregilo share on the Stock Exchange gained more than two and a half percentage points, to 3,19 euros.
“It is a question of equipping the company with an instrument that is widely used among listed companies – explained the CEO Pietro Salini -. In Italy, around 60% of the listed companies belonging to the Ftse Mib, representing over 95% of the capitalization of the stock market, has approved a resolution on the purchase of treasury shares and abroad, in the last 12 months, American companies have carried out over $500 billion in buyback purchases.
From an investment point of view, the purchase of treasury shares, continued Salini, "is consistent with the objectives of the company's industrial plan and, moreover, serves the primary objective of creating value for the shareholders, increasing the total shareholder return, contributing, among other things, to the distribution of liquidity to shareholders”.
