Finmeccanica launches share buyback programme
Rome, 10 July 2015 - Pursuant to Article 144-bis, paragraph 3, of the Issuers’ Regulation, Finmeccanica advises its intention to launch the share buyback programme implementing the resolution adopted by the Shareholders’ Meeting held on 11 May 2015 and duly communicated to the market.
The buyback programme, authorized for a maximum of 5,800,000 of ordinary Finmeccanica shares for a period of eighteen months from the date of the Shareholders’ resolution, is intended to serve the needs related to the Long Term Incentive Plan and Co-investment plan for the Finmeccanica Group’s management, also approved by the Shareholders’ Meeting.
The purchases will be carried out on the Italian Stock Exchange (M.T.A.), in stages considered appropriate and in compliance with the modalities laid down in Article 144-bis (1) Letter b of the Issuers’ Regulation, to a maximum and minimum price per share equal to the market price recorded on the M.T.A. in the day before the purchase plus 5% (maximum price) or minus 5% (minimum price).
In addition the number of Finmeccanica shares purchased on each day shall not exceed 25% of the average daily volume of Finmeccanica shares traded on the same M.T.A..
Details of the transactions carried out shall be disclosed to the market within the terms and conditions required by the current regulation.
The Company currently holds no. 32,450 treasury shares, equal to approximately 0.0056% of its share capital.