Genoa, 19th April 2016
Ansaldo STS (STS.MI) has launched the share buyback programme implementing the resolution approved by the Ordinary Shareholders’ Meeting held on April, 23rd 2015, which granted the authorization to purchase own shares, aimed at servicing, inter alia, the share incentive plans approved by the Company.
In accordance with the limits set by the aforementioned resolution, a maximum number of 85,799 own shares, equal to 0,043% of the entire share capital of the Company, will be purchased. Such purchases will be solely aim at servicing the 2012-2013 Stock Grant Plan approved by the Company and, more specifically, the 2013 tranche reserved to those employees who have met in such year the criteria to be assigned with the relevant shares.
In light of the limits set out in the above-mentioned shareholders’ resolution of April, 23rd 2015 approving the buyback, the programme shall be carried out in accordance with the following terms:
- the share purchases will be carried out under the price conditions set out in article 5, paragraph 1, of European Commission Regulation (EC) no. 2273/2003 of 22 December 2003. Specifically, this article provides that the issuer must not buy the shares for a price that is higher than the higher price between the price of the last independent trade and the price of the highest current independent bid on the Italian stock exchange managed by Borsa Italiana SpA. All purchases must also be carried out in accordance with the conditions and the limits set by Consob in relation to accepted market practices, where applicable;
- the share purchases will be made in accordance with the procedures set out in article 144-bis, paragraph 1, point b) of the Issuers’ Regulation;
- the number of shares purchased on any one day will be no higher than 25% of the average daily volume of Ansaldo STS shares traded on the Italian stock exchange;
- the buyback must be carried out by July, 1st 2016; this term is in line with the final deadline set by the Shareholders’ Meeting above, equal to 18 months from the resolution of April, 23rd 2015.
The company will timely notify the public of any subsequent amendments to the buyback programme.
Under the programme, Ansaldo STS will inform Consob and the market of any share purchase transactions that have been carried out, on a weekly basis, providing details of the number of shares purchased, and the date, time and price of every purchase.
As of today, the Company Ansaldo STS doesn’t hold own shares.