Buzzi S.p.A. commences an Equity Buyback Plan for 10,000,000 shares, for ?200 million, under the authorization approved on May 9, 2024.
May 13, 2024
Share
Buzzi Unicem S.p.A. (BIT:BZU) commences share repurchases on May 10, 2024, under the program mandated by the shareholders in the Ordinary Shareholders Meeting held on May 9, 2024. As per the mandate, the company is authorized to repurchase up to 10,000,000 ordinary shares, for ?200 million. The proposed purchase price must be between a minimum per share of not less than 10% and maximum of no more than 10% compared to the reference price of the ordinary share or savings shares recorded in the stock market session of the day before the completion of each individual transaction. The authorization is also aimed at allowing the company to use treasury shares as a payment in extraordinary transactions, also of equity interest swap or of conversion of bonds of possible future issuance, or for distribution, for a consideration or without consideration, to directors and employees of the company or its subsidiaries as well as for allocation to shareholders without consideration. The program will be valid for a period of 18 months. As of March 28, 2024 the company had 192,626,154 ordinary shares in issue, 7,494,316 ordinary shares in treasury.
On May 9, 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to ?200 million worth of its shares. The program will start from 10 May 2024, and is expected to end by June 2025.
Buzzi SpA, formerly known as Buzzi Unicem SpA, is an Italy-based company engaged in the manufacture of construction materials. The Company is primarily active in the production, distribution, and sale of cement, ready-mix concrete, and natural aggregates. The Companyâs operations are located in Italy, the United States, Germany, Luxembourg and the Netherlands, Poland, the Czech Republic and Slovakia, Ukraine, Russia, Mexico, Brazil, and Algeria. The three main geographical area with the higher generation of revenues are: the United States, Germany, and Mexico. The Firm is also engaged in the activity of Research and Development with the aim of developing and experimenting innovations to be used in the production chain and for their products. This activity is performed in cooperation with national research centers, universities, and private laboratories.
BUZZI S.P.A. 
