FERRARI N.V.: COMPLETION OF THE FIFTH TRANCHE OF THE DISCLOSED MULTI-YEAR SHARE REPURCHASE PROGRAM AND ANNOUNCEMENT OF THE SIXTH TRANCHE
March 03 2022 - 2:29PM
Maranello (Italy), March 3,
2022 – Ferrari N.V. (NYSE/EXM: RACE)
(“Ferrari” or the “Company”)
informs that the Company has purchased, under the fifth tranche of
the common share buyback program announced on October 4, 2021
(“Fifth Tranche”), additional common shares -
reported in aggregate form, on a daily basis - on the New York
Stock Exchange (NYSE) as follows:
TradingDate(dd/mm/yyyy) |
Stock
Exchange |
Number of common shares
purchased |
Average price per
shareexcluding
fees($) |
Consideration excluding
fees ($) |
Consideration excluding
fees (€)* |
22/02/2022 |
NYSE |
20,230 |
217.4715 |
4,399,448.45 |
3,878,900.06 |
02/03/2022 |
NYSE |
2,661 |
210.4052 |
559,888.24 |
504,131.31 |
Total |
- |
22,891 |
216.6501 |
4,959,336.68 |
4,383,031.37 |
(*) translated at the European Central Bank
EUR/USD exchange reference rate as of the date of each purchase
Since the announcement of the Fifth Tranche of
the buyback program dated October 4, 2021 till March 2, 2022, the
total invested consideration has been:
- Euro 119,999,914.85 for No. 570,960 common shares purchased on
the EXM
- USD 34,098,790.46 (Euro 29,998,949.45*) for No. 149,950 common
shares purchased on the NYSE.
With the purchases described above the Company
has completed the Fifth Tranche of the program announced on October
4, 2021.
Since January 1, 2019 until March 2, 2022, the
Company has purchased a total of 5,308,487 own common shares on EXM
and NYSE for a total consideration of Euro 803,420,566.54.
As of March 2, 2022, the Company held in
treasury No. 10,493,813 common shares equal to 4.08% 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.
A comprehensive overview of the transactions
carried out under the buyback 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).
The Company intends to continue its already
disclosed multi-year share repurchase program with a sixth tranche
of up to Euro 120 million to start on March 4, 2022 (“Sixth
Tranche”) and to end no later than June 14, 2022 of which
up to Euro 100 million to be executed on the EXM market under a
non-discretionary share repurchase agreement with a primary
financial institution and up to Euro 20 million to be executed on
the NYSE under an additional mandate with a primary financial
institution.
The Sixth Tranche will be conducted in the
framework of the resolution adopted by the Annual General Meeting
of Shareholders held on April 15, 2021. The repurchases will be
made in accordance with applicable laws and regulations.
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