Finmeccanica launches share buyback programme
Finmeccanica advises that, pursuant to article 144-bis, paragraph 3, of Consob Regulation 11971/1999, it is to proceed with the launch of the share buyback programme approved by the shareholders’ meeting held on 4 May 2011.
To implement the programme and enable it to be completed in the appropriate timescale, the Board of Directors, exercising the mandate conferred on it by the shareholders’ meeting, has confirmed the powers attributed to Giuseppe Orsi, CEO, for the execution of the shareholders’ resolution.
The maximum 1,530,287 ordinary shares approved for buyback by the shareholders’ meeting are to service the remaining requirements relating to existing share incentive schemes (2002-2004 and 2008-2010). The deadline for purchasing the shares is 31 December 2011.
This buyback programme may be implemented in several stages as considered appropriate, at the market price recorded on the day before the purchase plus 5% (maximum) or at the market price recorded on the day before the purchase minus 5% (minimum). The shares may be purchased on the market, or via the purchase and sale of derivative instruments traded on regulated markets.
The operations carried out must be disclosed to the market according to the deadlines and conditions stipulated by existing regulatory provisions.
The company currently holds 712,515 own shares, equivalent to approximately 0.123% of the total share capital.