Salcef Group S.p.A. commences an Equity Buyback Plan for 19,527,497 shares, representing 10% of its issued share capital, under the authorization approved on April 29, 2021.
July 13, 2021 at 01:53 pm
Share
Salcef Group S.p.A. (BIT:SCF) commences share repurchases on July 5, 2021, under the program mandated by the shareholders in the Ordinary and Extraordinary Shareholder's Meeting held on April 29, 2021. As per the mandate, the company is authorized to repurchase up to 19,527,497 shares, representing 10% of the company's share capital. The shares will be repurchased at a price per share where it cannot deviate downwards or upwards by more than 15% with respect to the reference price recorded by the share in the trading session preceding each individual transaction, also to a consideration that is not higher than the highest price between the price of the last independent transaction and the price of the highest current independent purchase offer present in the trading venue where the purchase is made. The program will be valid for 18 months.
On May 13, 2021, the company announced the approval for the start of share repurchase program. Under the program, the company will repurchase up to 200,000 shares. The repurchased shares will be used for incentive plans. As of May 13, 2021, the company had 298,243 shares in treasury.
Salcef Group SpA is an Italy-based holding company active, through its subsidiaries, in the railway industry providing integrated solutions for developing projects both in the construction of new lines and the renewal, rehabilitation and maintenance of existing ones. Its operational divisions are organized to work on both rail superstructures and on electric traction and signaling systems, as well as on all other kinds of civil works connected to railway infrastructures. The Group produces railway sleepers and other concrete products, from slabs for urban transport systems to tunnel segments. The Company also provides specific activities within the site production chain, such as execution of individual construction, renewal or maintenance activities, acting as a subcontractor for third parties, design and engineering of railway projects, management of track works carried out by third parties, rental of railway machinery and equipment, among others. It operates globally.
Salcef Group S.p.A. commences an Equity Buyback Plan for 19,527,497 shares, representing 10% of its issued share capital, under the authorization approved on April 29, 2021.