Transaction in Own Shares • Feb 8, 2017
Transaction in Own Shares
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| Informazione Regolamentata n. 1615-10-2017 |
Data/Ora Ricezione 08 Febbraio 2017 19:02:56 |
MTA | |
|---|---|---|---|
| Societa' | : | FINECOBANK | |
| Identificativo Informazione Regolamentata |
: | 84897 | |
| Nome utilizzatore | : | FINECOBANKN02 - Spolini | |
| Tipologia | : | IROS 10 | |
| Data/Ora Ricezione | : | 08 Febbraio 2017 19:02:56 | |
| Data/Ora Inizio Diffusione presunta |
: | 08 Febbraio 2017 19:17:57 | |
| Oggetto | : | PR Start of Treasury Shares purchasing | |
| Testo del comunicato |
Vedi allegato.
Pursuant to and for the purposes of Article 144-bis of CONSOB Regulation no. 11971 of February 24, 1999 FinecoBank (the "Bank") announces that, from February 9 th, 2017, a Treasury Shares (the "Shares") programme will be in place to service the 2016 incentive system - "2016 Plan PFA" for Personal Financial Advisors Identified Staff (the "Programme") as authorized by the Ordinary Meeting of the Bank's Shareholders of April 12th, 2016, according to the provisions of respectively articles 2357-ter and 2359-bis of the civil code, and to the other applicable laws and regulatory rules.
The Programme refers to the purchasing of Treasury Shares up to 250,000 (equal to 0.04% of the share capital of the Bank), for a maximum of EUR 1,750,000.00; specifically, the Treasury Shares to be purchased will be used for the execution of the third, fourth and fifth tranches of the above-mentioned 2016 incentive system.
Following the release of the required authorization by the Regulatory Authorities pursuant to Articles 77-78 of EU Reg. 575/2013 of June 26th, 2013 (CRR), the Board of Directors held on February 7th, 2017, in execution of the Programme, has resolved the granting of 57,740 shares, free of charge, to the beneficiaries. This number has been set by dividing the total amount of the accrued bonus of EUR 319,302.00 by the reference value set on the basis of the arithmetic average of the official closing price of the shares for each trading day on the Mercato Telematico Azionario (MTA) organised and managed by Borsa Italiana S.p.A. in the period starting from the day before the Board of Directors approving the 2016 Results on February 7th, 2017, until the same day of the previous month, both days included.
The purchases of the Shares connected to the implementation of the Programme will be carried out pursuing the procedure and within the operational limits established by the Shareholders' Meeting resolution referred to above, by Article 5 of Regulation (EU) 596/2014 (Market Abuse Regulation), by Article 3 of the European Commission Delegated Regulation (EU) 2016/1052 of March 8th, 2016 and the applicable general and industry sector regulations.
The purchase of the Shares will take place through one or more transactions on the regulated market, according to the operating procedures established for such transactions in the regulations for the organisation and management of that market, at a maximum unit price that does not exceed the higher of the price of the last independent transaction and the highest current independent purchase offer price in the trading venue where the purchase is made. In any event the price per Share must not be less than the par value, of €0.33, and not more, as a maximum, than the average closing prices for the Shares recorded on the Mercato Telematico Azionario organised and managed by Borsa Italiana S.p.A. in the thirty stock exchange trading days prior to the purchase, plus 10%.
The purchases of Shares linked to the implementation of the Programme will be made for volumes not exceeding 25% of the average daily volume of the Shares on the trading venue where the purchase is made, calculated based on the average daily volume traded in the 20 trading days prior to the purchase date.
In order to execute the Program, the Bank will use a portion of the Shares already held from previous purchases in execution of the Stock granting 2014 PFA Plan, thus reducing the maximum amount of shares to be purchased up to 31,519 (equal to 0.005% of the share capital) for a potential expense of EUR 191,730.
The Programme, which will start on February 9 th, 2017, will last until February 17th, 2017.
Any subsequent changes to the above Programme will be promptly announced by the Bank to the public with a press release.
Lastly, please note that the Bank will communicate the following information to the competent authority and to the public, by the seventh daily market session following the date of execution of the respective transactions: the number of Shares purchased, the date and time of each purchase, the weighted average price for the day and trading venue, the price of each purchase, and the aggregate number of Shares purchased on the date of the communication and its aggregate volume.
As of the date of the present press release, the Bank holds 714,325 Treasury Shares, equal to 0.12% of share capital.
FinecoBank is UniCredit Group's direct multichannel bank. It has one of the largest financial advisors' network in Italy*, and is the number one broker in Italy for equity trades in terms of volume of orders**. FinecoBank offers an integrated business model combining direct banking and financial advice , with a single free-of-charge account including a full range of banking, credit, trading and investment services, which are also available through applications for smartphone and tablet. With its fully integrated platform, FinecoBank is the benchmark for modern investors.
*Source: Assoreti
**Source: Assosim
Fineco - Media Relations Fineco - Investor Relations Tel.: +39 02 2887 2256 Tel. +39 335 580 5703 [email protected] [email protected]
Barabino & Partners Tel. +39 02 72023535 Emma Ascani [email protected] +39 335 390 334
Tommaso Filippi [email protected] +39 366 644 4093
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