MADRID, 9 Mar. (EUROPA PRESS) -
Naturgy has launched from this Thursday, March 9, and until the next day 24, a program to repurchase its own shares for up to 8 million euros to deliver them to group employees in Spain who opt in 2023 for part of their salary is paid in shares instead of cash.
As reported by the energy company to the National Securities Market Commission (CNMV), within the framework of this buyback program, the necessary shares will be acquired based on the requests received from employees, and in any case, with a maximum limit of 400,000 shares and 8 million euros.
Naturgy will buy its shares at market price, and 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 at that time in the trading centers where the purchase is made.
The company has further explained that it will not buy on any trading day more than 25% of the average daily volume of the shares in the trading venue where it makes the acquisition. The average daily volume of Naturgy shares for these purposes will be based on the average daily volume traded in the twenty business days prior to the date of each purchase.
Although this buyback program will remain in force until March 24, Naturgy reserves the right to end the buyback program if, prior to this date, it had reached the maximum number of shares established (400,000 shares) or if any other circumstance that so advises or makes it necessary.
Regarding the remaining shares after the calculations and adjustments for their delivery to employees, Naturgy has indicated that it may keep these shares in treasury or allocate them to amortization or for another purpose that it determines.