ENI S.p.A. Treasury Share Purchase Summary
Business Context and Reporting Period
This Form 6-K filing reports on the purchase of treasury shares by ENI S.p.A. during the period from January 27, 2025, to January 31, 2025. The transactions were executed on the Euronext Milan exchange as part of the second tranche of a buyback program approved by the Shareholders' Meeting on May 15, 2024. The stated purpose of the program is to provide additional remuneration to shareholders compared to standard dividend distributions.
Key Financial Metrics
| Metric | Value |
|---|---|
| Shares Purchased (Period) | 3,699,893 |
| Percentage of Share Capital (Period) | 0.11% |
| Weighted Average Price (Period) | €13.5139 |
| Total Consideration (Period) | €49,999,966.87 |
| Cumulative Shares Purchased (Since June 13, 2024) | 127,617,320 (3.89% of capital) |
| Cumulative Consideration (Since June 13, 2024) | €1,767,565,217.00 |
| Total Treasury Shares Held | 219,227,647 (6.67% of capital) |
Material Changes and Daily Activity
The company executed purchases on all five trading days within the reporting window. The daily breakdown is as follows:
- Jan 27: 744,270 shares at €13.4360 (€9,999,998.32)
- Jan 28: 742,878 shares at €13.4611 (€9,999,986.99)
- Jan 29: 745,421 shares at €13.4152 (€9,999,994.91)
- Jan 30: 737,341 shares at €13.5622 (€9,999,987.49)
- Jan 31: 729,983 shares at €13.6989 (€9,999,999.16)
The filing indicates a consistent daily spend of approximately €10 million, with the weighted average price trending slightly upward toward the end of the week.
Management Commentary and Program Status
The buyback activity is part of a broader capital return strategy. The total treasury share holding now stands at 6.67% of the share capital. This total includes shares acquired under the current program, shares held from previous periods, and shares granted free of charge to directors and employees under specific incentive plans (Long-Term Incentive Plan 2020-2022 and Employee Stock Ownership Plan). The filing does not provide specific guidance on future buyback volumes beyond the current program parameters.
Investor Verification Checklist
- Verify the remaining authorization limit for the second tranche of the buyback program approved on May 15, 2024.
- Confirm the total number of shares outstanding to validate the 6.67% treasury holding calculation.
- Review the specific terms of the "Long-Term Incentive Plan 2020-2022" and "Employee Stock Ownership Plan" to understand the composition of the non-traded treasury shares.
- Monitor subsequent 6-K filings for the continuation of the daily €10 million purchase pattern.