Iveco Group N.V. is the home of unique people and brands that power your business and mission to advance a more sustainable society. (Image courtesy of Iveco Group)
Turin, 21stJune 2024 . Iveco Group N.V. (EXM: IVG) (the Company) announces the launch of an initial tranche (up to € 60,000,000) of a share buyback program with the aim of repurchasing up to 10,000,000 Common Shares for a maximum total allocation of € 130,000,000 for the whole buyback initiative, as per the resolution taken by the Company’s Annual General Meeting held on 17th April 2024 (the AGM).
To this end the Company entered into a buyback agreement with a primary financial institution (the Bank), which will manage the purchase of IVG Common Shares on Euronext Milan and on multilateral trading facilities, making its trading decisions in its sole discretion. The repurchased Common Shares will be used to meet the Company’s obligations under its equity incentive plans, as existing from time to time. The initial tranche of the buyback program will end on 18th December 2024 (subject to suspension or early termination) and will be carried out by the Bank according to the terms and conditions of the authorisation by the AGM, in compliance with all applicable laws and regulations including the European Commission Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052.
Any changes to the information above will be promptly disclosed. The Company will report on the progress of the purchases in accordance with applicable rules.
As of today, the Company holds in treasury 457,865 Common Shares and 70,901 Special Voting Shares. No IVG shares are held by entities the Company controls.
Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a major force in its specific business: IVECO, a pioneering commercial vehicles brand that designs, manufactures, and markets heavy, medium, and light-duty trucks; FPT Industrial, a global leader in a vast array of advanced powertrain technologies in the agriculture, construction, marine, power generation, and commercial vehicles sectors; IVECO BUS and HEULIEZ, mass-transit and premium bus and coach brands; IDV, for highly specialised defence and civil protection equipment; ASTRA, a leader in large-scale heavy-duty quarry and construction vehicles; MAGIRUS, the industry-reputed firefighting vehicle and equipment manufacturer; and IVECO CAPITAL, the financing arm which supports them all. Iveco Group employs more than 36,000 people around the world and has 20 industrial sites and 31 R&D centres. Further information is available on the Company’s website www.ivecogroup.com
Media Contacts:
Francesco Polsinelli, Tel: +39 335 1776091
Helen Liu, Tel: +86 13564 257026
Fabio Lepore, Tel: +39 335 7469007
E-mail: mediarelations@ivecogroup.com
Investor Relations:
Federico Donati, Tel: +39 011 0073539
E-mail: investor.relations@ivecogroup.com
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Source: Iveco Group N.V. via GLOBE NEWSWIRE
