Eni Begins Buyback Plan Covering Up To 10% Of Share Capital

2025-05-16 02:04:25

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 16. Eni announced that it will launch a new share buyback program in the coming days, following the approval granted at the Shareholders' Meeting held on May 14, 2025, Trend reports.

The program, to be carried out by April 2026, will cover up to 315 million shares, representing approximately 10% of the company's share capital, with a maximum value of 1.5 billion euros. As stated during the Capital Markets Update on 27 February 2025, the total amount may be increased up to 3.5 billion euros, depending on the development of cash flow from operations.

The purpose of the buyback is to provide shareholders with additional returns beyond dividend payments. In line with the resolutions passed by the Shareholders' Meeting, all repurchased shares will be cancelled by July 2026 without reducing the share capital.

Purchases will be made on the Euronext Milan through an authorized intermediary, who will operate independently with respect to the timing of transactions. Eni confirmed that all operations will be conducted in compliance with applicable laws and regulations and disclosed to the market accordingly.

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