Eni Continues Share Buyback Programme

Italy’s Eni showed its commitment to a deep rationalisation process, explaining that it will continue its share buyback programme. 

‘Eni, pursuant to the resolution passed by the Shareholders’ Meeting of 8 May 2014, will continue the execution of its buyback programme in accordance with the terms already announced to the market. Purchases will start from 7 October 2014,’ reads a note released on Monday.

The European gas industry is indeed going through a difficult period, which also challenges the so-called ‘Age of Gas.’ In this sense, European companies are called to find ways to become more attractive to investors. 

The buyback programme enhances shareholders’ value. 

‘Purchases will be made on Italy’s Electronic Stock Exchange… As of today Eni owns no. 27.600.197 treasury shares, equal to 0,76 % of its share capital. Eni subsidiaries do not own any shares in the company.’