CELLULARLINE S.P.A. Cellularline S.p.A. (BIT:CELL) commences share repurchases on January 19, 2024, under the program mandated by the shareholders in the Ordinary General Meeting held on November 22, 2023. As per the mandate, the company is authorized to repurchase up to 1,003,566 shares, representing 4.59% of its share capital. The shares should be repurchased such that the holding of company's own shares in portfolio does not exceed 7% of its share capital.
The price to be paid for repurchase should not be more or less than 15% of the reference price that the stock will have recorded in the stock exchange session on the day before each individual operation. The purpose of the program is to regularize the progress of negotiations and prices and to support the liquidity of the security on the market, to conserve shares for subsequent use for consideration In extraordinary operations, contribution or other act of disposal and/or use, with other parties, or the destination to the loan service bonds convertible into shares of the Company or bonds with warrants, to use for compensation and incentives based on financial instruments and reserved for directors and employees of the Company and/or of the companies directly or indirectly controlled by it, both through the free granting of purchase options and through the free attribution of shares and to use to service any future programs for the free assignment of shares to shareholders. The authorization will be valid for 18 months.
As of November 22, 2023, the company had 21,868,189 issued shares including 527,207 treasury shares.
