Amplifon S.p.A. (MTA; Bloomberg ticker: AMP:IM, “Amplifon”), global leader in hearing solutions and services, announces the beginning of a share buyback program, previously authorized by the Shareholders’ Meeting of April 24th, 2020.
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 potential free allocation of shares to shareholders, as well as to use as a form of payment for extraordinary transactions, including company acquisitions and 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 22nd, 2021.
The buyback of treasury shares may be carried out in line with any of the methods described and admitted by the current legislation, including (EU) Regulation n. 596/2014 and related implementing provisions, as well as the admitted market practice recognized by Consob, with the only exception of public tender offers for purchase or exchange, taking into account the specific exemption provided for by Paragraph 3 of the aforementioned Article No. 132 of Legislative Decree No. 58 of 24 February 1998.
As at today’s date the Company owns a total of 1,551,696 treasury shares, corresponding to 0.685% of the Company’s share capital and to 0.482% of the total of the share capital in voting rights.