Eni Launches New Share Buyback Program
Ticker: EIPAF · Form: 6-K · Filed: May 23, 2024 · CIK: 1002242
| Field | Detail |
|---|---|
| Company | Eni Spa (EIPAF) |
| Form Type | 6-K |
| Filed Date | May 23, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: share-buyback, corporate-action, shareholder-return
TL;DR
Eni kicking off new buyback program, signaling confidence and aiming to boost shareholder value.
AI Summary
Eni S.p.A. announced the launch of a new share buyback program on May 23, 2024. This program is part of Eni's strategy to return value to shareholders. The company is headquartered in Rome, Italy.
Why It Matters
Share buybacks can signal management's confidence in the company's valuation and potentially increase earnings per share, benefiting existing shareholders.
Risk Assessment
Risk Level: low — The filing is a routine announcement of a share buyback program, which is a common corporate action.
Key Players & Entities
- Eni S.p.A. (company) — Registrant and issuer of the share buyback program
- May 23, 2024 (date) — Date of the announcement and filing
- Rome, Italy (location) — Location of Eni's principal executive offices
FAQ
What is the purpose of the new share buyback program?
The filing states the program is part of Eni's strategy to return value to shareholders.
When was this share buyback program announced?
The announcement was made on May 23, 2024, as indicated by the filing date.
Is Eni S.p.A. required to file annual reports under Form 20-F or 40-F?
The filing indicates Eni S.p.A. files annual reports under Form 20-F.
Does Eni S.p.A. furnish information to the Commission under Rule 12g3-2(b)?
The filing indicates 'No' for furnishing information under Rule 12g3-2(b).
What is the SIC code for Eni S.p.A.?
The Standard Industrial Classification (SIC) code for Eni S.p.A. is 1311, which corresponds to Crude Petroleum & Natural Gas.
Filing Stats: 450 words · 2 min read · ~2 pages · Grade level 9.2 · Accepted 2024-05-23 10:17:11
Filing Documents
- tm2415410d1_6k.htm (6-K) — 17KB
- tm2415410d1_6kimg001.jpg (GRAPHIC) — 11KB
- tm2415410d1_6kimg003.jpg (GRAPHIC) — 1KB
- 0001104659-24-064587.txt ( ) — 36KB
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: May 23, 2024 Eni launches the new share buyback program San Donato Milanese (Milan) , 23 May 2024 - Eni announces that, following the authorization granted by the Shareholders' Meeting held on 15 May 2024, the first tranche of the new share buyback program (the "First Tranche ") will be launched in the next days. The First Tranche will concern up to a maximum of 6.4 million of Eni’s shares (approximately 0.2% of share capital), up to a total maximum of €150 million to be used for the implementation of the 2024-2026 Employee Stock Ownership Plan . The purchases will be executed on the Euronext Milan through an authorized agent , who will act independently , also in relation to the timing of transactions and will be disclosed to the market in accordance with the terms and conditions set out in the laws and regulations in force. As announced on 24 th April 2024 in the context of the presentation of the first quarter 2024 results, Eni confirms that the 2024 share buyback program, to be executed by April 2025, will have a total amount of €1.6 billion. This amount may be increased up to a total maximum of €3.5 billion, in case of upside scenarios. Therefore, after the First Tranche, further phases of purchases will be launched to complete the overall planned buyback program. Company Contacts: Press Office : Tel. +39.0252031875 – +39.0659822030 Freephone for shareholders (from Italy): 800940924 Freephone for shareholders (from abroad): + 80011223456 Switchboard: +39-0659821 ufficio.stampa@eni.com segreteriasocietaria.azionisti@eni.com investor.relations@eni.com Web site: www.eni.com