Treasury share buyback
In the month of December 2007 and during the first two months of 2008, Mediobanca bought back 16,200,000 treasury shares on the market, equal to approx. 2% of the company’s share capital, for a total outlay of €213.4m. Treasury shares rose to 17,010,000* in September 2009 as a result of the scrip share issue.
The programme was aimed at managing the size, composition and cost of the Bank’s capital more effectively, while maintaining the overall stability of the capital of both the Bank and the Group unchanged in compliance with supervisory regulations.
The purpose was also to equip Mediobanca with a valuable instrument in terms of strategic and operational flexibility, in view of potential acquisitions and/or alliances, and for use in connection with staff remuneration schemes.
Treasury shares are deducted from net equity. Any gains or losses arising on disposal are also recorded in net equity.
* N° 15.780.237 as at 1 April 2016. Numbers may change based on awards which may be made during the current FY to staff members under the remuneration schemes in force.
Last update: 05/07/2016