Amplifon S.p.A. (EXM; Bloomberg ticker: AMP:IM), global leader in hearing solutions and services, announces the beginning of a share buyback program, previously authorized by the Shareholders’ Meeting of April 22nd, 2022.
The program is aimed at increasing treasury shares portfolio to service stock-based incentive plans, existing and future, reserved for executives and/or employees and/or staff members of the Company or its subsidiaries, and for the potential free allocation of shares to shareholders, as well as to increase the number of treasury shares to be used as a form of payment for extraordinary transactions, including company acquisitions or the exchange of equity interests.
In accordance with the Shareholders’ Meeting resolution, the program provides for the purchase, on one or more occasions on a revolving basis, of a total number of shares which, together with the treasury shares already held, would amount to up to 10% of Amplifon S.p.A.’s share capital, always in compliance with regulation.
The shares may be purchased at a price not higher or lower by 10% than the stock price registered at the close of the trading session prior to each single purchase transaction.
The Shareholders’ authorization to acquire treasury shares expires on October 21st, 2023.
The buyback of treasury shares may be carried out in line with Art. 132 of Legislative Decree of February 24th, 1998, n. 58 and Art. 144-bis of Consob Regulation n. 11971 of May 14th, 1999, by purchases on the regulated market in accordance with the operating procedures established in the Markets Regulation organized and managed by Borsa Italiana S.p.A.
As at May 12th, 2022, the Company own a total of 2,160,367 treasury shares, corresponding to 0.954% of the Company’s share capital and to 0.670% of the total of the share capital in voting rights.