Illimity Bank S.p.A. commences an Equity Buyback for 1,000,000 shares, representing 1.19% for ?5.5 million, under the authorization approved on April 24, 2024.
June 05, 2024
Share
illimity Bank S.p.A. (BIT:ILTY) commences share repurchases on May 30, 2024, under the program mandated by the shareholders in the Ordinary Shareholders' Meeting held on April 24, 2024. As per the mandate, the company is authorized to repurchase up to 1,000,000 own shares, representing 1.19% of its issued share capital for a total of ?5.5 million. The shares will be repurchased at a price not higher and not lower than 10% compared to the official price recorded by the stock in the session of the Telematic Stock Market, organized and managed by Borsa Italiana S.p.A., the day before the completion of each individual purchase transaction. The repurchased shares will be put at the service of both the incentive system management by objectives (the "MBO") 2024 and future plans as well as other incentive systems. The authorization will be valid for a period of 18 months, from the date of the shareholders' meeting. As of March 8, 2024, the company had 83,916,330 ordinary shares and 88,445 treasury shares.
May 29, 2024, the company announces a share repurchase program. Under the program, the company will repurchase its own shares. The repurchases will commence on 30 May 30, 2024, and the program will expire on April 8, 2025.
illimity Bank SpA is an Italy-based bank, which operates also under the brand Banca Interprovinciale. The Bank provides products and services through three segments: Small and Medium Enterprises (SME), Corporate Non Performing Loans (NPLs) and Individuals and Families. The SME segment aims at Italian small and medium-sized enterprises characterized by limited access to credit providing factoring and services for both performing and non-performing companies. The Corporate NPLs segment operates by acquiring portfolios or funding the acquisition thereof by other investors, or directly managing the loans. The Individuals and Families segment covers a range of direct banking services, such as current accounts, debit and credit cards and advanced payment systems, deposit account, loans, mortgages and insurance, among others. The Bank is active locally.
Illimity Bank S.p.A. commences an Equity Buyback for 1,000,000 shares, representing 1.19% for ?5.5 million, under the authorization approved on April 24, 2024.
ILLIMITY BANK S.P.A. 
