Business Context and Reporting Period
This Form 6-K filing by Eni S.p.A. reports on the execution of its treasury share buyback program. The reporting period covers transactions executed on the Euronext Milan exchange from November 21 to November 24, 2023. The report was signed on November 29, 2023.
Key Financial Metrics
The filing details specific capital allocation activities rather than operational financial performance (revenue, profit, or cash flow are not reported in this document).
- Shares Acquired (Period): 4,199,456 shares (0.12% of share capital).
- Total Consideration (Period): €62,630,664.71.
- Weighted Average Price (Period): €14.9140 per share.
- Cumulative Buyback (Since Sept 4, 2023): 46,483,454 shares (1.38% of share capital) for €704,812,352.01.
- Total Treasury Shares Held: 136,704,526 shares (4.05% of share capital), including shares held prior to the current program and those cancelled in May 2023.
Daily Transaction Summary
| Date | Quantity | Weighted Avg Price (€) | Amount (€) |
|---|---|---|---|
| 21/11/2023 | 1,067,701 | 14.9083 | 15,917,606.82 |
| 22/11/2023 | 1,072,754 | 14.8080 | 15,885,341.23 |
| 23/11/2023 | 985,790 | 14.9078 | 14,695,960.16 |
| 24/11/2023 | 1,073,211 | 15.0313 | 16,131,756.50 |
| Total | 4,199,456 | 14.9140 | 62,630,664.71 |
Material Changes and Program Status
The transactions reported are part of the second tranche of the treasury share program approved by the Shareholders' Meeting on May 10, 2023. The primary objective stated is to provide additional remuneration to shareholders in relation to dividend distribution. The filing notes that the total treasury share holding (4.05% of share capital) accounts for purchases made since May 12, 2023, shares held previously, and adjustments for the cancellation of 195,550,084 treasury shares resolved in May 2023.
Guidance, Outlook, and Risks
This filing is a regulatory disclosure of executed transactions and does not contain forward-looking guidance, management commentary on operational outlook, or specific risk factors beyond the standard disclosure requirements for share repurchases.
Investor Verification Checklist
- Verify the total remaining authorization limit for the second tranche of the buyback program approved in May 2023.
- Confirm the current market price of Eni shares relative to the weighted average purchase price of €14.9140.
- Review the total number of treasury shares held (136,704,526) to assess potential future share cancellations or reissuance for employee incentive plans.
- Check subsequent filings to determine if the buyback program has concluded or if further purchases are planned.