On 25 March 2020, Mediobanca completed the treasury share buyback plan that it had commenced on 8 November 2018. The purpose of the plan was to equip the bank with operational flexibility, providing it with treasury shares to use in potential acquisitions or to execute equity-based payment plans for group personnel.
The plan was carried within the terms authorized by the shareholders during the general meeting on 27 October 2018 and by the European Central Bank.
Mediobanca complied with the requirements of Delegated Regulation (EU) 2016/1052 on the volume and price of buybacks and the 30-day black-out period preceding the approval of the results for the year or an interim financial report. Furthermore, as provided for by article 2357 of the Italian Civil Code, the treasury shares were purchased within the limits of distributable earnings and available reserves.
Mediobanca, on 25 March 2020, holds 26,611,288 treasury shares, equal to nearly 3% of its share capital (the maximum limit in the buyback plan).