Business Context and Reporting Period
This Form 6-K filing by Eni S.p.A. reports on the purchase of treasury shares conducted on the Euronext Milan exchange. The reporting period covers the dates from February 26, 2024, to March 1, 2024. The transactions were executed under the second tranche of the treasury shares program approved by the Shareholders' Meeting on May 10, 2023, aimed at providing additional remuneration to shareholders.
Key Financial Metrics
- Shares Acquired (Period): 2,099,812 shares (0.06% of share capital).
- Total Consideration (Period): €30,028,196.67.
- Weighted Average Price (Period): €14.3004 per share.
- Cumulative Shares Acquired (Since Sept 4, 2023): 90,741,089 shares (2.69% of share capital).
- Cumulative Consideration (Since Sept 4, 2023): €1,364,840,061.52.
- Total Treasury Shares Held: 180,962,161 shares (5.36% of share capital), including shares held prior to the current program and those granted to directors.
Material Changes and Transaction Details
The filing details daily transaction volumes and weighted average prices for the five-day period:
| Date | Quantity | Weighted Avg Price (€) | Amount (€) |
|---|---|---|---|
| 26/02/2024 | 421,276 | 14.1963 | 5,980,560.48 |
| 27/02/2024 | 422,393 | 14.3101 | 6,044,486.07 |
| 28/02/2024 | 418,400 | 14.4083 | 6,028,432.72 |
| 29/02/2024 | 416,823 | 14.2791 | 5,951,857.30 |
| 01/03/2024 | 420,920 | 14.3088 | 6,022,860.10 |
The filing does not provide comparative financial data (revenue, profit, cash flow) for the period, as the document is strictly a disclosure of share repurchase activity.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on operational outlook, or discussion of risks and contingencies beyond the standard disclosure of the treasury share program mechanics. The primary objective stated is the execution of the buyback program to support shareholder remuneration.
Investor Verification Checklist
- Verify the total number of treasury shares held (180,962,161) against the company's latest capital structure filings.
- Confirm the remaining authorization limit for the second tranche of the buyback program approved on May 10, 2023.
- Review the impact of the 195,550,084 treasury shares cancelled by the Shareholders' Meeting on May 10, 2023, on earnings per share (EPS).
- Monitor the weighted average purchase price (€14.30) relative to the current market price to assess the efficiency of the buyback execution.