Vantea SMART S.p.A. commences an Equity Buyback for 2,459,148 shares, representing 18.86% of its issued share capital, under the authorization approved on March 12, 2024.
May 07, 2024
Share
Vantea SMART S.p.A. (BIT:VNT) commences a share repurchases on April 29, 2024, under the program mandated by the shareholders in the Ordinary and Extraordinary General Meeting held on March 12, 2024. As per the mandate, the company is authorized to repurchase up to 2,459,148 shares, representing 18.86% of its issued share capital, such that the company?s holding in treasury does not exceed 20% of its issued share capital. The unit price must not be less than and not more than 30% of the official stock exchange price of the shares recorded by Borsa Italiana Spa in the previous session each individual transaction. The purpose of the program is to create a stock of shares to be used to service future compensation and incentive plans based on financial instruments and reserved to employees and collaborators of the company, both through the granting of a title free of purchase options, and through the free allocation of shares, to allow the use as consideration in extraordinary transactions, including the exchange or sale of shareholdings to be carried out by exchange, contribution or other act of disposal and/or use, with other subjects, for the use of bond loans convertible into company shares or bond loans with warrants and to support the liquidity of the share on the market. The authorization will be valid for 18 months. As of February 26, 2024, the company had 12,887,734 issued and outstanding shares and had 147,998 treasury shares.
On April 21, 2024, the company announces a share repurchase program. Under the program, the company will repurchase its own shares.
Vantea Smart SpA is an Italy-based information technology (IT) company. The Company operates in four businesses: Cybersecurity, Enterprise Resource Planning (ERP), Concierge and Hotel Restaurants Cafes (Ho.Re.Ca.) Distribution. Cybersecurity provides IT services related to the design, implementation and maintenance of identity access management (IAM); and security operations, among others. ERP offers a suite of cloud-native services for small and medium-sized enterprises. Ho.Re.Ca. Distribution provides business customers with a digital platform. Concierge provides technological business to business (B2B) and business to customers (B2C) services through a digital platform.
Vantea SMART S.p.A. commences an Equity Buyback for 2,459,148 shares, representing 18.86% of its issued share capital, under the authorization approved on March 12, 2024.