ENI S.p.A. Form 6-K Summary: Treasury Share Repurchase
Business Context and Reporting Period
This Form 6-K filing by ENI S.p.A. reports on the execution of its treasury share repurchase program. The reporting period covers the week from August 14 to August 18, 2023. The transactions were executed on the Euronext Milan exchange under the authorization approved by the Shareholders' Meeting on May 10, 2023.
Key Financial Metrics
- Shares Acquired (Period): 2,830,807 shares
- Weighted Average Price (Period): €13.9699 per share
- Total Consideration (Period): €39,546,050.61
- Cumulative Shares Acquired (Program Start): 57,766,751 shares (1.71% of share capital)
- Cumulative Cost (Program Start): €765,185,980
- Current Treasury Holdings: 88,314,501 shares (2.62% of share capital)
Note: This filing does not contain revenue, profit, cash flow, or debt metrics as it is a specific report on share buyback activity.
Material Changes and Daily Activity
The company executed purchases on four of the five trading days in the period. No transactions occurred on August 15, 2023.
| Date | Shares Purchased | Weighted Avg Price (€) | Total Amount (€) |
|---|---|---|---|
| Aug 14, 2023 | 569,832 | 14.0276 | 7,993,375.36 |
| Aug 15, 2023 | 0 | 0.0000 | 0.00 |
| Aug 16, 2023 | 570,179 | 13.9423 | 7,949,606.67 |
| Aug 17, 2023 | 846,292 | 13.9953 | 11,844,110.43 |
| Aug 18, 2023 | 844,504 | 13.9241 | 11,758,958.15 |
| Total | 2,830,807 | 13.9699 | 39,546,050.61 |
Outlook and Program Status
The repurchases are part of an ongoing program authorized by shareholders. The filing notes that the current treasury holding of 88,314,501 shares accounts for 2.62% of the total share capital. This total includes shares acquired under the current program and existing holdings, adjusted for the cancellation of 195,550,084 treasury shares resolved by the Shareholders' Meeting on May 10, 2023. The filing contains no forward-looking guidance, risk factors, or management commentary beyond the transaction details.
Investor Verification Checklist
- Verify the total number of treasury shares held (88,314,501) against the company's latest capital structure filings.
- Confirm the remaining authorization limit for the treasury share program approved on May 10, 2023.
- Review the impact of the May 10, 2023 cancellation of 195,550,084 shares on the total share count and earnings per share (EPS).
- Monitor the weighted average purchase price (€13.97) relative to the current market price to assess the efficiency of the buyback.