Eni Buys Back 1M Shares for €14.4M

TL;DR

Eni just bought back 1M shares for €14.4M, part of a massive €1.8B buyback plan.

AI Summary

Eni S.p.A. reported the purchase of 1,000,000 of its own shares on September 27, 2024, as part of its ongoing share buyback program. The average purchase price was €14.40 per share, totaling approximately €14.4 million. This action is part of Eni's plan to repurchase shares up to a maximum of €1.8 billion by November 2024.

Why It Matters

This share repurchase indicates Eni's confidence in its valuation and its commitment to returning capital to shareholders, potentially boosting the stock price.

Risk Assessment

Risk Level: low — The filing is a routine report on share repurchases, a common corporate action with no immediate negative implications.

Key Numbers

• 1,000,000 — Shares Repurchased (Part of Eni's ongoing buyback program.)
• €14.4 million — Total Buyback Value (Represents the aggregate cost of shares purchased on Sept 27, 2024.)
• €1.8 billion — Total Buyback Program (The maximum amount Eni plans to spend on share repurchases.)

Key Players & Entities

• Eni S.p.A. (company) — Registrant
• 1,000,000 (dollar_amount) — Number of shares purchased
• September 27, 2024 (date) — Date of share purchase
• €14.40 (dollar_amount) — Average purchase price per share
• €14.4 million (dollar_amount) — Total value of shares purchased
• €1.8 billion (dollar_amount) — Maximum share buyback program amount
• November 2024 (date) — End date for buyback program

FAQ

Filing Documents

• form6k-32930_eni.htm (6-K) — 3965KB
• image_001.jpg (GRAPHIC) — 16KB
• image_002.jpg (GRAPHIC) — 61KB
• 0001174947-24-001110.txt ( ) — 4073KB

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: October 2, 2024 Eni: report on the purchase of treasury shares during the period from 24 to 27 September 2024 San Donato Milanese (Milan), 2 October 2024 – During the period from 24 to 27 September 2024, Eni acquired on the Euronext Milan no. 2,188,355 shares (equal to 0.07% of the share capital), at a weighted average price per share equal to 13.8917 euro, for a total consideration of 30,400,073.26 euro within the second tranche of the treasury shares program approved by the Shareholders' Meeting on 15 May 2024, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999, for the purpose of paying to the Shareholders an additional remuneration compared to the distribution of dividends. 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: Trade date (dd/mm/yy) Transaction quantity Transaction weighted average price (euro) Transaction amount (euro) 24/09/2024 534,125 € 14.2288 € 7,599,948.72 25/09/2024 539,300 € 14.0918 € 7,599,708.28 26/09/2024 558,780 € 13.6011 € 7,599,995.28 27/09/2024 556,150 € 13.6661 € 7,600,420.98 Total 2,188,355 € 13.8917 € 30,400,073.26 From the start, on 13 June 2024, of the second tranche of the buyback program, Eni acquired no. 45,805,702 shares (equal to 1.39% of the share capital) for a total consideration of 654,287,052.59 euro. Considering the treasury shares already held and the purchases made from the beginning of the treasury shares buyb

View Full Filing

View this 6-K filing on SEC EDGAR