The buy-back will allow Ilbe to provide more liquidity to the market and to be able to dispose of its own shares as consideration as part of any extraordinary and strategic transactions
Rome, Paris, 17 May 2022 – ILBE (Iervolino and Lady Bacardi Entertainment), a company engaged in the production of film and television content (Euronext Growth Milan – IT0005380602 – IE and Euronext Growth Paris – IT0005380602 – ALIE), in accordance with Articles 2357 and 2357-ter of the Italian Civil Code as well as Article 132 of Italian Legislative Decree no. 58/1998 and Article 144-bis of Consob Regulation no. 11971/1999, announces the launch of a share buy-back programme starting on 18 May 2022 for a maximum of 150,000
ordinary shares (representing approximately 0.4% of the current share capital) and for a maximum market value of €300,000.
Pursuant to Articles 2357 and 2357 ter of the Italian Civil Code, the programme is in implementation of the resolution of the shareholders’ meeting held on 12.11.2021, already made public. For the purpose of executing the buy-back programme, ILBE has appointed Intermonte SIM as a licensed third-party intermediary, which will make the purchase decisions in relation to the timing of the transactions and in compliance with daily price and volume limits and the terms of the programme.
The buy-back programme will end by 30 September 2022. Any subsequent changes to the buy-back programme will be promptly disclosed to the public in the manner and terms envisaged by applicable law.
The purpose of the authorisation to purchase and dispose of shares is to allow the Company to purchase and dispose of ordinary shares in compliance with applicable EU and national laws and accepted market practices recognised by Consob, and specifically to support liquidity in compliance with the requirements set forth by applicable laws and regulations; to allow the purchase of shares by the beneficiaries of any stock option plans and/or in the possibility of implementing any stock grant plans; to be able to dispose of own shares as consideration for any extraordinary transactions including but not limited to acquisitions, mergers, demergers, etc., and/or for other uses deemed to be of financial/management and/or strategic interest for Ilbe, including the exchange of shareholdings with other parties in the context of transactions of interest to the Company.
For further details please refer to the authorising resolution approved by the Shareholders’ Meeting and the related report of the Board of Directors, available in the “Investor Relations” section of the Company’s website (https://ilbegroup.com/) and on the 1INFO-SDIR circuit storage mechanism managed by Computershare (www.1info.it).