Iveco Group announces the launch of an initial tranche of the share buyback program authorised in Apri
June 21 2024 - 12:30AM
Iveco Group announces the launch of an initial tranche of the share
buyback program authorised in Apri
Turin, 21stJune 2024 . Iveco Group N.V.
(EXM: IVG) (the Company) announces the launch of an initial tranche
(up to € 60,000,000) of a share buyback program with the aim of
repurchasing up to 10,000,000 Common Shares for a maximum total
allocation of € 130,000,000 for the whole buyback initiative, as
per the resolution taken by the Company’s Annual General Meeting
held on 17th April 2024 (the AGM).
To this end the Company entered into a buyback
agreement with a primary financial institution (the Bank), which
will manage the purchase of IVG Common Shares on Euronext Milan and
on multilateral trading facilities, making its trading decisions in
its sole discretion. The repurchased Common Shares will be used to
meet the Company’s obligations under its equity incentive plans, as
existing from time to time. The initial tranche of the buyback
program will end on 18th December 2024 (subject to suspension or
early termination) and will be carried out by the Bank according to
the terms and conditions of the authorisation by the AGM, in
compliance with all applicable laws and regulations including the
European Commission Regulation (EU) 596/2014 and the Commission
Delegated Regulation (EU) 2016/1052.
Any changes to the information above will be
promptly disclosed. The Company will report on the progress of the
purchases in accordance with applicable rules.
As of today, the Company holds in
treasury 457,865 Common Shares and 70,901 Special Voting
Shares. No IVG shares are held by entities the Company
controls.
Iveco Group N.V. (EXM: IVG) is
the home of unique people and brands that power your business and
mission to advance a more sustainable society. The eight brands are
each a major force in its specific business: IVECO, a pioneering
commercial vehicles brand that designs, manufactures, and markets
heavy, medium, and light-duty trucks; FPT Industrial, a global
leader in a vast array of advanced powertrain technologies in the
agriculture, construction, marine, power generation, and commercial
vehicles sectors; IVECO BUS and HEULIEZ, mass-transit and premium
bus and coach brands; IDV, for highly specialised defence and civil
protection equipment; ASTRA, a leader in large-scale heavy-duty
quarry and construction vehicles; MAGIRUS, the industry-reputed
firefighting vehicle and equipment manufacturer; and IVECO CAPITAL,
the financing arm which supports them all. Iveco Group employs more
than 36,000 people around the world and has 20 industrial sites and
31 R&D centres. Further information is available on the
Company’s website www.ivecogroup.com
Media
Contacts:Francesco Polsinelli, Tel: +39
335 1776091Helen Liu, Tel: +86 13564 257026Fabio Lepore, Tel: +39
335 7469007E-mail: mediarelations@ivecogroup.com
Investor Relations:Federico Donati, Tel: +39
011 0073539 E-mail: investor.relations@ivecogroup.com
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