Treasury shares - buyback plan
Treasury share buyback plan to give the bank strategic and operational flexibility
Share buyback programme, with the aim of providing Mediobanca with a flexible strategic and operational instrument.
On 28 October 2023, the shareholders of Mediobanca gathered in Annual General Meeting approved a share buyback programme involving a total of up to 17,000,000 shares, equal to 2% of the company’s share capital. The buyback, which entailed an outlay of €197,959,090.60, was completed in February 2024. The shares acquired were cancelled in June 2024, with no reduction in the share capital.
On 28 October 2024, the shareholders of Mediobanca gathered in Annual General Meeting approved a share buyback and cancellation programme involving a total amount of approx. €385m. The deal has received authorization from the ECB.
The two buybacks described above represent the first two tranches in the share buyback programme included in the 2023-26 Strategic Plan “One Brand-One Culture”.