ENI S.p.A. Treasury Share Purchase Report
Business Context and Reporting Period
This Form 6-K filing reports on the purchase of treasury shares by ENI S.p.A. on the Euronext Milan exchange. The reporting period covers the week from October 14 to October 18, 2024. These transactions are part of the second tranche of a buyback program approved by the Shareholders' Meeting on May 15, 2024, intended to provide additional remuneration to shareholders.
Key Financial Metrics
| Metric | Value |
|---|---|
| Shares Purchased (Period) | 3,888,400 |
| Percentage of Share Capital (Period) | 0.12% |
| Weighted Average Price (Period) | €14.1441 |
| Total Consideration (Period) | €54,997,824.05 |
| Cumulative Shares Purchased (Since June 13, 2024) | 56,457,278 (1.72% of capital) |
| Cumulative Consideration (Since June 13, 2024) | €805,084,926.49 |
| Total Treasury Shares Held | 153,078,350 (4.66% of capital) |
Material Changes and Daily Activity
The company executed purchases on all five trading days within the reporting period. Daily volumes remained relatively consistent, ranging between approximately 765,000 and 787,000 shares per day. The weighted average price fluctuated between €13.9720 (October 15) and €14.3682 (October 14).
- Oct 14: 765,500 shares @ €14.3682 (€10,998,855.57)
- Oct 15: 787,250 shares @ €13.9720 (€10,999,486.92)
- Oct 16: 781,300 shares @ €14.0791 (€11,000,038.33)
- Oct 17: 778,000 shares @ €14.1376 (€10,999,068.36)
- Oct 18: 776,350 shares @ €14.1694 (€11,000,374.87)
Outlook and Management Commentary
The filing confirms the continued execution of the treasury share program. The stated purpose of the buyback is to pay shareholders an additional remuneration compared to the distribution of dividends. The filing does not provide specific forward-looking guidance on future buyback volumes beyond the current program parameters, nor does it disclose revenue, profit, or cash flow metrics for the period.
Investor Verification Checklist
- Verify the total remaining authorization limit for the second tranche of the buyback program approved in May 2024.
- Confirm the current market price of ENI shares relative to the €14.14 weighted average purchase price.
- Review the company's latest financial statements to assess the impact of the €55 million cash outflow on liquidity.
- Check for any upcoming shareholder meetings where the utilization of treasury shares (e.g., for dividend distribution or cancellation) may be proposed.