MADRID, 6 Mar. (EUROPA PRESS) -
Repsol will implement from this Monday, March 6, and until July 31, a new own share repurchase program to acquire 35 million shares, representing approximately 2.64% of the group's share capital, with a maximum investment of 909.7 million euros.
As reported by the company to the National Securities Market Commission (CNMV), "the sole purpose" of this buyback program is to acquire part of its own shares that will be redeemed with the capital reduction that it announced a few weeks ago in the event of that it be approved by the next general meeting of shareholders.
The group has explained that the acquisition of its shares will be carried out at market price and that it will not buy shares at a price higher than the highest of the price of the last independent operation or of the highest independent offer of that moment in the trading centers where the purchase is made.
Regarding the trading volume, the energy company has specified that it will not buy more than 25% of the average daily volume of its shares in the trading center where the purchase is made.
For these purposes, the average daily volume of the company's shares will be based on the average daily volume traded in the 20 business days prior to the date of each purchase.
Although this repurchase program is expected to end on July 31, Repsol reserves the right to terminate it if, prior to this date, its purpose had been met and, in particular, if it had acquired under it on July 2 .64% of its capital or shares for an acquisition price that would reach the maximum amount set (909.7 million) or if any other circumstance so advised.