Business Context and Reporting Period
This Form 6-K filing by Eni S.p.A. reports on the purchase of treasury shares during the period from November 6 to November 10, 2023. The transactions were executed on the Euronext Milan exchange as part of the second tranche of the treasury shares program approved by the Shareholders' Meeting on May 10, 2023. The program aims to provide additional remuneration to shareholders in relation to dividend distribution.
Key Financial Metrics
| Metric | Value |
|---|---|
| Shares Acquired (Nov 6-10) | 5,280,046 |
| Percentage of Share Capital Acquired | 0.16% |
| Weighted Average Price per Share | €15.0854 |
| Total Consideration | €79,651,811.90 |
| Cumulative Shares Acquired (Since Sept 4, 2023) | 41,219,212 (1.22% of share capital) |
| Cumulative Consideration (Since Sept 4, 2023) | €626,079,035.10 |
| Total Treasury Shares Held | 131,440,284 (3.89% of share capital) |
Daily Transaction Summary (Nov 6-10, 2023)
| Date | Quantity | Weighted Avg Price (€) | Amount (€) |
|---|---|---|---|
| 06/11/2023 | 1,035,412 | 15.4073 | 15,952,903.31 |
| 07/11/2023 | 1,038,003 | 15.1347 | 15,709,864.00 |
| 08/11/2023 | 1,058,647 | 14.9236 | 15,798,824.37 |
| 09/11/2023 | 1,074,023 | 14.9057 | 16,009,064.63 |
| 10/11/2023 | 1,073,961 | 15.0668 | 16,181,155.59 |
Material Changes and Program Status
The filing details the execution of the second tranche of the buyback program, which commenced on September 4, 2023. Since the start of this tranche, Eni has acquired 41,219,212 shares. The total treasury shareholding now stands at 131,440,284 shares, representing 3.89% of the share capital. This total includes shares acquired since May 12, 2023, shares held prior to the program, and free-of-charge shares granted to directors following the conclusion of the "Long-Term Incentive Plan 2020-2022" vesting period. The filing notes the cancellation of 195,550,084 treasury shares resolved by the Shareholders' Meeting on May 10, 2023.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or specific risk factors beyond the standard disclosure requirements for treasury share purchases. The primary purpose of the filing is regulatory compliance regarding the disclosure of share repurchase activities under Article 144-bis of Consob Regulation 11971/1999.
Investor Verification Checklist
- Verify the total number of treasury shares held (131,440,284) against the company's latest capital structure reports.
- 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 share cancellations resolved in May 2023 on the total share count.
- Monitor the weighted average price of recent purchases (€15.0854) against current market prices to assess buyback efficiency.