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Geox
Transaction in Own Shares • Jun 4, 2019
4421_rns_2019-06-04_8d2cee3f-1bb2-472d-b089-4ccd3e1d1966.pdf
Transaction in Own Shares
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| Informazione Regolamentata n. 0742-19-2019 |
Data/Ora Ricezione 04 Giugno 2019 17:46:21 |
MTA | |
|---|---|---|---|
| Societa' | : | GEOX | |
| Identificativo Informazione Regolamentata |
: | 119387 | |
| Nome utilizzatore | : | GEOXN04 - Libralesso | |
| Tipologia | : | REGEM; 3.1 | |
| Data/Ora Ricezione | : | 04 Giugno 2019 17:46:21 | |
| Data/Ora Inizio Diffusione presunta |
: | 04 Giugno 2019 17:46:22 | |
| Oggetto | : | LAUNCH OF THE NEW SHARE BUY BACK PROGRAMME |
|
| Testo del comunicato |
Vedi allegato.
PRESS RELEASE
LAUNCH OF THE NEW SHARE BUY-BACK PROGRAMME
Biadene di Montebelluna, June 4, 2019 – Geox S.p.A. ("Geox") hereby announces the launch of a programme, starting from June 5, 2019, to buy back up to a maximum of 3,996,250 ordinary shares (equal to 1.54% of the current share capital), in accordance with the resolution passed by the Shareholders' Meeting on April 16, 2019, pursuant to articles 2357 and 2357-ter of the (Italian) civil code.
The purpose of the programme is to buy back Geox shares to be used for the 2019-2021 Stock Grant Plan, approved by the Shareholders' Meeting on April 16, 2019, in compliance with the parameters and criteria laid down by (EU) Regulation no. 596/2014, (EU) Delegated Regulation no. 1052/2016 and other generally applicable legislation, as well as in accordance with the parameters (including daily purchase prices and volumes) and the terms and conditions authorised by the Shareholders' Meeting and already made public.
By implementing the 2019-2021 Stock Grant Plan, the Company intends to promote and pursue the following main objectives:
(i) involve and provide an incentive to beneficiaries whose work is considered to be of fundamental importance for the achievement of the Group's Strategic Plan objectives;
(ii) increase beneficiaries' loyalty by providing an incentive to remain within the Group;
(iii) share and align beneficiaries' interests with those of the Company and the shareholders over the medium-long term, recognising the contribution made by the management team to increasing the Company's value.
Purchases of the shares will be made at a price that shall be no higher than the price of the last independent transaction or the highest, current, independent purchase offer price during trading in the place where the purchase takes place, whichever is higher. This is without prejudice to the fact that the purchase shall be made at a price per share that is no more than 10% higher or lower than the closing price posted on the trading day prior to the purchase date. Maximum daily purchase volumes cannot exceed 25% of the average daily volumes traded during the 20 Stock Exchange sessions preceding the purchase date. In any case, the price may not exceed any limits provided for by applicable legislation and regulations.
Geox S.p.A. has granted a mandate to Goldman Sachs International to coordinate and execute the share buy-back programme on behalf of Geox S.p.A. and to make trading decisions relating to the programme, which will be completed by December 18, 2019, acting at its own discretion and completely independently from the Company, for a maximum amount of Euro 7,992,500.
The buy-back programme will start on June 5, 2019 and will end no later than December 18, 2019, without prejudice to the fact that it may be withdrawn, providing prompt notification to the market should this be the case.
As of today, Geox does not hold any treasury shares, and nor do its subsidiaries hold any Geox shares.
As part of the programme, Geox will inform Consob and the market of any transactions carried out, in accordance with the time frames and following the procedures provided for by applicable legislation.
This press release does not constitute, or form part of, an offer of financial instruments or a solicitation to invest in any country.
FOR MORE INFORMATION
INVESTOR RELATIONS Simone Maggi: tel. +39 0423 282476; [email protected]
Livio Libralesso General Manager - Corporate, CFO
PRESS OFFICE Juan Carlos Venti: tel: +39 0423 281914; cell. +39 335 470641; [email protected]
GEOX GROUP
Geox Group operates in the classic and casual footwear sector for men, women and children, with a medium/high price level, and in the apparel sector. The success of Geox is due to the constant focus on the application of innovative solutions and technologies on the product that guarantee both impermeability and breathability.
Geox is one of the leading brands in the "International Lifestyle Casual Footwear Market". Geox technology is protected by 38 different patents and by 24 more recent patent applications.