Brembo launches the plan for the buy-back of own shares

8/1/2023

 The purpose of the plan authorised by the General Shareholders’ Meeting is to buy back ordinary shares of Brembo S.p.A.

​

Brembo S.p.A. announces the launch of the plan for the buy-back of own shares that was authorised by the General Shareholders’ Meeting on 20 April 2023, pursuant to Articles 2357 and 2357-ter of the Italian Civil Code, Article 132 of Legislative Decree No. 58/1998, as further amended (TUF), Articles 144-bis and 144-bis.1 of Consob Regulation No. 11971/1999, as further amended (the “Rules for Issuers”) and in accordance with the provisions of Article 5 of Regulation (EU) No. 596/2014 (the “Regulation”) and of Commission Delegated Regulation (EU) No. 2016/1052 (the “Delegated Regulation”), as well as in compliance with the terms and conditions approved by the aforementioned General Shareholders’ Meeting.

 

Purpose of the Plan

The purpose of the plan authorised by the General Shareholders’ Meeting is to buy back ordinary shares of Brembo S.p.A. for the following aims:

a) undertaking any investments, directly or through intermediaries, including aimed at containing abnormal movements in stock prices, stabilising stock trading and prices, supporting the liquidity of Company’s stock on the market, so as to foster the regular conduct of trading beyond normal fluctuations related to market performance, without prejudice in any case to compliance with applicable statutory provisions;

b) carrying out, in accordance with the Company’s strategic guidelines, share capital transactions or other transactions which make it necessary or appropriate to swap or transfer share packages through exchange, contribution, or any other available methods;

c) buying back own shares as a medium-/long-term investment.

 

Maximum purchasing amount

Shares may be purchased, up to maximum amount of €144,000,000, for a minimum price not lower than the closing price of the shares during the trading session on the day before each transaction is undertaken, reduced by 10%, and for a maximum price not higher than the closing price of the shares during the trading session on the day before each transaction is undertaken, increased by 10%.

The buy-back of treasury shares must be undertaken on regulated markets in accordance with applicable laws in force, and in particular with Article 132 of TUF, Article 144-bis, paragraphs 1 and 1-bis, and Article 144-bis.1 of the Rules for Issuers, and EU and Italian laws and regulations on market abuse in force from time to time, and thus also the Regulation and the Delegated Regulation.

 

Maximum number of shares that may be purchased

The plan envisages the buy-back of a maximum of 8,000,000 ordinary shares.

It should be noted that, as of today, Brembo S.p.A. holds 10,035,000 ordinary shares, which represent 3.005% of share capital and, together with the maximum number of ordinary shares that may be purchased pursuant to the said plan, are equal to 5.401% of Brembo S.p.A.'s share capital. The Company’s subsidiaries do not hold any ordinary shares of Brembo S.p.A. The authorisation includes the power to dispose of own shares in portfolio in one or more tranches.

 

Term of the Plan

This plan will be launched on 1 August 2023 and will end by the date of expiry of the authorisation passed by the General Shareholders' Meeting on 20 April 2023 and effective for 18 months (i.e., until 20 October 2024).

 

Methods to buy back own shares

Brembo S.p.A. ha incaricato Intesa San Paolo S.p.A. per dare esecuzione al programma di acquisto di azioni per conto della Società secondo le indicazioni che saranno di volta in volta fornite dalla Società. Gli acquisti saranno effettuati nel rispetto della normativa vigente e, in particolare, dell’articolo 132 del TUF, dell’articolo 144-bis, comma 1 e comma 1-bis del Regolamento Emittenti, dell’articolo 144-bis.1 del Regolamento Emittenti, della normativa comunitaria e nazionale in materia di abusi di mercato di tempo in tempo vigente e, quindi, tra l’altro, del Regolamento e del Regolamento Delegato, in conformità con quanto deliberato dalla citata Assemblea del 20 aprile 2023, nei termini già comunicati al mercato e in linea con la normativa applicabile.

I quantitativi giornalieri di acquisto non eccederanno il 25% del volume medio giornaliero degli scambi del titolo Brembo nei 20 giorni di negoziazione precedenti alle date di acquisto.

Gli acquisti potranno avvenire in una o più volte e saranno effettuati nei limiti degli utili distribuibili e delle riserve disponibili risultanti dall’ultimo bilancio approvato.

La Società non è obbligata ad eseguire il Programma e, se avviato, lo stesso potrà essere sospeso, interrotto o modificato in qualsiasi momento, per qualsiasi motivo e senza preavviso, in conformità alle leggi e ai regolamenti applicabili.

Eventuali successive modifiche al predetto programma di acquisto verranno quindi tempestivamente comunicate dalla Società al pubblico, nei modi e termini previsti dalla normativa vigente. Le eventuali operazioni effettuate e i relativi dettagli saranno comunicati al mercato nei termini e con le modalità di cui alla normativa vigente.