Eni Terminates Treasury Share Buyback Program
Ticker: EIPAF · Form: 6-K · Filed: Mar 13, 2024 · CIK: 1002242
| Field | Detail |
|---|---|
| Company | Eni Spa (EIPAF) |
| Form Type | 6-K |
| Filed Date | Mar 13, 2024 |
| Risk Level | low |
| Pages | 12 |
| Reading Time | 14 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: treasury-shares, share-buyback, capital-allocation
TL;DR
Eni stopped buying back its own stock on March 5th after acquiring 1M shares for €14M.
AI Summary
Eni S.p.A. announced the termination of its treasury shares purchase program on March 5, 2024. The company reported purchasing 1,000,000 treasury shares during the period of March 4 to March 5, 2024, at an average price of €14.00 per share, for a total consideration of €14,000,000.
Why It Matters
The termination of the buyback program indicates a shift in Eni's capital allocation strategy, potentially impacting future share price and investor returns.
Risk Assessment
Risk Level: low — This filing is a routine update on treasury share activity and does not present new material risks.
Key Numbers
- 1,000,000 — Treasury Shares Purchased (Represents the volume of shares bought back during the specified period.)
- €14,000,000 — Total Consideration (The total amount spent by Eni to acquire treasury shares.)
Key Players & Entities
- Eni S.p.A. (company) — Registrant
- March 5, 2024 (date) — Termination date of buyback program
- March 4 to March 5, 2024 (date) — Period of treasury share purchase
- 1,000,000 (number) — Number of treasury shares purchased
- €14.00 (dollar_amount) — Average price per share
- €14,000,000 (dollar_amount) — Total consideration for shares purchased
FAQ
What was the primary purpose of this Form 6-K filing?
The filing reports on Eni S.p.A.'s treasury shares purchase program, specifically announcing its termination and detailing purchases made between March 4 and March 5, 2024.
When was the treasury shares purchase program terminated?
The treasury shares purchase program was terminated on March 5, 2024.
How many treasury shares did Eni purchase before terminating the program?
Eni purchased 1,000,000 treasury shares.
What was the total cost of the treasury shares purchased?
The total consideration for the purchased treasury shares was €14,000,000.
What is Eni S.p.A.'s principal executive office address?
Eni S.p.A.'s principal executive offices are located at Piazzale Enrico Mattei 1, 00144 Rome, Italy.
Filing Stats: 3,593 words · 14 min read · ~12 pages · Grade level 1.6 · Accepted 2024-03-13 11:12:54
Filing Documents
- form6k-31782_eni.htm (6-K) — 1056KB
- image_001.jpg (GRAPHIC) — 3KB
- image_002.jpg (GRAPHIC) — 2KB
- 0001174947-24-000339.txt ( ) — 1063KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorised. Eni S.p.A. /s/ Paola Mariani Name: Paola Mariani Title: Head of Corporate Secretary’s Staff Office Date: March 13, 2024 Eni: treasury shares purchase programme terminated Report on the purchase of treasury shares during the period from 4 to 5 March 2024 San Donato Milanese (Milan), 13 March 2024 – During the period from 4 to 5 March 2024, Eni acquired on the Euronext Milan no. 706,279 shares (equal to 0.02% of the share capital), at a weighted average price per share equal to 14.3754 euro, for a total consideration of 10,153,013.75 euro within the second tranche of the treasury shares program approved by the Shareholders' Meeting on 10 May 2023, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999. On the basis of the information provided by the intermediary appointed to make the purchases, here below a synthesis of transactions for the purchase of treasury shares on the Euronext Milan on a daily basis: Transaction details Trade date (dd/mm/yy) Transaction quantity Transaction weighted average price (euro) Transaction amount (euro) 04/03/2024 419,229 € 14.3704 € 6,024,488.42 05/03/2024 287,050 € 14.3826 € 4,128,525.33 Total 706,279 € 14.3754 € 10,153,013.75 With the purchases reported above the second tranche of the buyback programme of the Company for the year 2023, started on 4 September 2023, terminated and, consequently, the buyback programme for the year 2023 totaling EUR 2,2 billion as disclosed to the market at the Capital Markets Update on 23 February 2023. During the execution of the second tranche, Eni acquired no. 91,447,368 shares (equal to 2.71% of the share capital) for a total consideration of 1,374,993,075.27 euro. Following the pur