Milan, 16 April 2021 – Pursuant to Art. 144-bis of the Consob Regulation no. 11971/1999 (the “Issuers’ Regulation”) as well as to Art. 2, paragraph 1 of the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (the “1052 EU Regulation”), Maire Tecnimont S.p.A. (the “Company” or “Maire Tecnimont”) announces the launch on 21st April 2021 of the treasury share buyback program (the “Program”), pursuant to Art. 5 of the Commission Delegated Regulation (EU) of 8 March 2016 n. 596/2014 (the “MAR”), dedicated to compensation or incentive plans based on Maire Tecnimont shares adopted by the Company.
The Program - launched in accordance with the resolution passed by the Ordinary Shareholders’ Meeting held on 15 April 2021 that authorized the purchase and the disposal of treasury shares for 18 months - shall be carried out, under the safe harbor provided for by the MAR, in accordance with the following terms and conditions:
– the purchases will be made on the Telematic Stock Exchange Market (MTA) organized and managed by Borsa Italiana S.p.A. through Intesa Sanpaolo S.p.A. as the authorized intermediary in charge of implementing the Program, in compliance with the instructions and limits set out in the above-mentioned Shareholders’ resolution on the authorization to purchase and dispose of treasury shares, in Art. 5 of the MAR, in Art. 3 of the 1052 EU Regulation as well as in any other applicable Italian or European regulation;
– the maximum number of ordinary shares to be purchased is equal to no. 2,100,000, corresponding to the 0.64% of the total number of issued ordinary shares of the Company, to be dedicated to compensation or incentive plans based on Maire Tecnimont shares adopted by the Company;
– taking into consideration the current market price of Maire Tecnimont shares on the Telematic Stock Exchange Market (at the end of the daily market session of 15th April 2021), the maximum outlay for the purchase is estimated to be around EUR 6,500,000;
– the purchases will be made at a price not exceeding the higher between the price of the last independent transaction and the price of the highest independent purchase offer current at the Telematic Stock Exchange organized and managed by Borsa Italiana S.p.A., and provided that the above unit price may not be less than the minimum of 10% and higher by more than 10% of the reference price of Maire Tecnimont’s share on the stock exchange session prior to each individual transaction;
– purchases of treasury shares must be effected on any trading day for a volume not exceeding 25% of the average daily volume of Maire Tecnimont’s shares negotiated in the Telematic Stock Exchange Market organized and managed by Borsa Italiana S.p.A., based on the average daily volume traded during the 20 trading days preceding the date of purchase;
– the buyback must be carried out by 14th May 2021.
The Company will timely notify the public of any subsequent amendments to the buyback Program.
Pursuant to Art. 5, par. 1(b) and 3 of the MAR and to Art. 2, par. 2 and 3 of the 1052 EU Regulation, under the Program, Maire Tecnimont will inform Consob and the market, in aggregate form and in detail, also by means of publication on its website, of any share purchase transactions that have been carried out, according to the timing under the applicable regulation.
At the date of the present press release, the Company holds no treasury shares.
Maire Tecnimont S.p.A., listed on the Milan Stock Exchange, heads an industrial group which leads the global natural resource processing industry (downstream oil & gas plant engineering, with technological and executive expertise). Its subsidiary NextChem operates in the field of green chemicals and technologies in support of the energy transition. The Maire Tecnimont Group operates in 45 countries, through 50 companies and about 9,100 people. For further information: www.mairetecnimont.com.
Group Media Relations
Carlo Nicolais, Tommaso Verani
Tel +39 026313 7603
Tel +39 02 6313-7823