Fiera Milano SpA (BIT:FM) commences an Equity Buyback for 2,946,321 shares, representing 4.06% of its issued share capital, under the authorization approved on April 27, 2023.
November 20, 2023
Share
Fiera Milano SpA (BIT:FM) commences share repurchases on November 13, 2023, under the program mandated by the shareholders in the General Meeting held on April 27, 2023. As per the mandate, the company is authorized to repurchase up to 2,946,321 shares, representing 4.06% of its issued share capital. The company is authorized to repurchase its own shares, such that the company?s holding in treasury does not exceed 5% of its issued share capital. The purchase of each share shall not be greater than the price of the last independent transaction or the price of the highest current independent offer (whichever is highest) in the trading venues where the purchase is made and the unit price must be neither 10% lower nor higher than the reference price recorded for Fiera Milano shares on the MTA market organized and managed by Borsa Italiana SpA on the trading day before each individual purchase transaction. The repurchased shares will be disposed of through sale; or may be used as part of share incentive plans, or as part of any bond issues convertible into company shares; or used as a consideration for the purchase of shareholdings and possibly for assignment to shareholder; or used for share swaps, part exchanges, conferrals or as part of equity transactions or other corporate and/or financial transactions and/or other extraordinary transactions and any other non-cash disposal transactions. The authority is valid for a period of 18 months, from the date of passing of the resolution. As at March 16, 2023, the company had 71,917,829 issued shares and had 683,758 shares in treasury.
On November 9, 2023, the company announces a share repurchase program. Under the program, the company will repurchase up to 350,000 shares, for ?1.1 million. The purpose of the program is to increase treasury shares portfolio to service stock-based incentive plans, existing and future, reserved for executives and/or employees of the company. The repurchases will commence on November 13, 2023, and the program will expire at the earliest of the date on which the maximum annual purchase limit under the program has been reached or 18 months, from date of passing of the resolution.
Fiera Milano SpA is an Italy-based holding company engaged in the trade shows and conferences industry. Its business activities are divided into five segments. The Italian Exhibitions segment covers the organization and hosting of exhibitions, such as the use, promotion and offer of furnished exhibition spaces. The Foreign Exhibitions includes the activities associated with exhibitions and end services for exhibitors. The Stand-fitting services segment encompasses the activities of Nolostand SpA stand-fitting services, technical services and all exhibition site services for exhibitions and congresses. The Media segment covers the production of content and supply of on line and off line publishing services, as well as the organization of events and congresses. It also includes publishing and digital services, events and training. The Congresses segment covers the management of conferences and events.
Fiera Milano SpA (BIT: FM) commences an Equity Buyback for 2,946,321 shares, representing 4.06% of its issued share capital, under the authorization approved on April 27, 2023.
FIERA MILANO SPA 
