Following the authorisation granted at the Shareholders’ Meeting of 24th June 2020, Rai Way has launched, as of 5th August 2020, a share buyback programme. The main contents of this programme have been communicated to the market.
The programme aims to:
- invest in mid- and long-term liquidity;
- optimise the structure of capital structure;
- provide a treasury shares portfolio which can be used for applications of particular interest to the Company, including within stock incentive plans, or for the assignment of free shares to shareholders.
These buybacks, carried out on the Telematic Share Market of the Italian Stock Exchange, may incur a maximum total cost of 20,000,000.00 Euros, and must be carried out within an 18-month period from the date of the Shareholders’ Meeting of 24th June 2020.