ENI SPA current report, Q3 FY2024

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 specific reporting period covers the dates from July 1 to July 5, 2024. These transactions were executed under the second tranche of a treasury share program approved by the Shareholders' Meeting on May 15, 2024, intended to provide additional remuneration to shareholders.

Key Financial Metrics

Metric Value
Shares Purchased (July 1-5) 2,619,600
Percentage of Share Capital 0.08%
Weighted Average Price €14.5443
Total Consideration €38,100,139.62
Total Shares Held (Cumulative) 105,804,172 (3.22% of share capital)
Program Start Date (2nd Tranche) June 13, 2024
Total Acquired Since June 13 9,183,100 shares (€130,005,867.72)

Material Changes and Program Status

The filing details daily transaction volumes and prices for the five-day period. The weighted average price fluctuated daily between approximately €14.48 and €14.60. As of July 5, 2024, the cumulative total of treasury shares held by ENI stands at 105,804,172, representing 3.22% of the company's share capital. This includes shares purchased in the current program starting May 27, 2024, and shares held prior to the current buyback initiative.

Management Commentary and Outlook

The filing confirms that the purchases are strictly for the purpose of paying additional remuneration to shareholders, as authorized by the Shareholders' Meeting. No specific guidance on future buyback volumes or price targets beyond the current program parameters is provided in this document. The company continues to execute the program via an appointed intermediary on the Euronext Milan exchange.

Investor Verification Checklist

  • Verify the total remaining authorization limit for the treasury share program approved on May 15, 2024.
  • Confirm the current market price of ENI shares relative to the weighted average purchase price of €14.5443.
  • Review the total number of treasury shares held (105,804,172) against the maximum percentage of share capital allowed under Italian law and the company's bylaws.
  • Check for any subsequent filings regarding the completion or suspension of the second tranche of the buyback program.