Conclusion of the buy-back programme for Saipem treasury shares to cover the 2016-2018 Long-Term Incentive Plan
San Donato Milanese (Milan), August 2, 2017 – Saipem S.p.A. informs that it has completed the buy-back programme (the “Programme”) for Saipem ordinary shares approved by the Shareholders’ Meeting on April 28, 2017, which concerned the buy-back of the Company’s own shares to cover the 2017 allocation of the 2016-2018 Long Term Incentive Plan (the ‘Plan’), as approved by the Shareholders’ Meeting on April 29, 2016, pursuant to article 84-bis, paragraph 2 of the Issuers’ Regulation and article 114-bis of Italian Legislative Decree 58/98.
Over the period July 26 – August 1, 2017 (inclusive), a total of no. 7,841,200 treasury shares (representing 0.776% of the ordinary shares issued) were bought back, corresponding to the number indicated by the Board of Directors at their meeting of July 24, 2017. All buy-back transactions were made on the regulated Computerized Trading Market MTA at an average price of Euro 3.448 per share, for a total counter-value of Euro 27,070,546.
Accordingly, having regard for the other treasury shares already held at the start of the Programme (no. 7,106,134 shares, representing 0.703% of the share capital) and the treasury shares purchased under the Programme, at today's date Saipem holds no. 14,947,334 treasury shares representing 1.479% of the share capital.
Information regarding the Programme is published at www.saipem.com, under the section “Governance – Documents”.
Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil & gas market. The company has distinctive competences in operations in harsh environments, remote areas and deepwater. Saipem provides a full range of services with “EPC” and “EPCI” contracts (on a “turn-key” basis) and has distinctive capabilities and unique assets with a high technological content.
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