• Home
  • Journal
  • Public Companies
  • Ferrari N.V.: Completion of the second tranche of the disclosed multi-year share repurchase program and announcement of the third tranche

Ferrari N.V.: Completion of the second tranche of the disclosed multi-year share repurchase program and announcement of the third tranche

Maranello (Italy), 14 November 2019 – Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) announces that under the multi-year common share repurchase program announced on 28 December 2018 (the “Program”), the Company has purchased additional common shares in respect of the second tranche of the Program – reported in aggregate form, on a daily basis – as follows:
Since the announcement of the second tranche (1 July 2019) till 12 November 2019, the total invested consideration has been:Euro 149,999,949.15 for No. 1,063,109 common shares purchased on the MTA;USD 55,180,198.75 (Euro 49,993,735.50*) for No. 357,464 common shares purchased on the NYSE;resulting in total No. 8,397,607 common shares held in treasury as of 12 November 2019. As of the same date, the Company held 3.26% of the total issued share capital including the common shares and the special voting shares, net of shares assigned under the Company’s equity incentive plan.(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchaseA comprehensive overview of the transactions carried out under the share repurchase program, as well as the details of the above transactions, are available on Ferrari’s corporate website under the Buyback Programs section (http://corporate.ferrari.com/en/investors/stock-and-shareholder-corner/buyback-programs).With the purchases described above the Company has completed the second tranche of its Program announced on 1 July 2019.The Company intends to continue its already disclosed multi-year share repurchase program with a third tranche of up to Euro 200 million to start on 15 November 2019 (“Third Tranche”) and to end no later than 24 June 2020 of which Euro 150 million to be executed on the MTA market under a non-discretionary share repurchase agreement with a primary financial institution and up to Euro 50 million to be executed on the NYSE under an additional mandate with a primary financial institution.AttachmentFNV Buyback Purchases PR 14.11.2019 (ENG)

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.