Snam kicks off today, Monday 18 June, the treasury share buyback plan approved by the shareholders' meeting last April.
“For the implementation of the first part of the program – specifies a press release from the company – Snam has stipulated an enhanced buyback agreement with a primary level intermediary, with a duration of no more than 6 months. The appointed intermediary will proceed with the possible purchase of Snam shares in full independence, in compliance with the contractually predefined parameters and criteria as well as with the constraints of the applicable legislation and the resolution of the shareholders' meeting”.
The purchases will be made on the MTA market and Snam will notify the market of the purchase transactions made. Currently, Snam holds 90.922.625 treasury shares in its portfolio, equal to 2,62% of the
share capital. Snam's subsidiaries do not own any shares in the Company.
Il Snam title leads the declines in Piazza Affari at -3,94% at 10:42 on the day of coupon detachment.
