Banca Akros is acting as authorized intermediary in the buy-back program for Saipem

Saipem granted to Banca Akros the mandate of authorized intermediary for the Buy-Back program on the ordinary shares approved by its Shareholders’ Meeting on April 29, 2020.

The Program concerns the buy-back of the Company’s own shares to cover:

• the 2020 allocation of the 2019-2021 Long-Term Incentive Plan, for a maximum number of 17,090,920 treasury shares and for an amount not exceeding Euro 93,000,000;
• the 2021 allocation of the 2021-2023 Short-Term share-based Incentive Plan, for a maximum number of 918,150 treasury shares and for an amount not exceeding Euro 17,200,000.

The transaction confirms the role of Banca Akros as reference partner for Buy-Back deals.

For further information read the Press release of Saipem.

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