Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Ferrari N.V.: Periodic Report on the Buyback Program

RACE

Maranello (Italy), July 22, 2024 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 250 million share buyback program announced on June 28, 2024, as the fifth tranche of the multi-year share buyback program of approximately Euro 2 billion expected to be executed by 2026 in line with the disclosure made during the 2022 Capital Markets Day (the “Fifth Tranche”), the additional common shares - reported in aggregate form, on a daily basis - on the Euronext Milan (EXM) as follows:



Trading
Date
(dd/mm/yyyy)



Stock Exchange



Number of common shares purchased



Average price per share
excluding fees
(€)



Consideration excluding fees



(€)

15/07/2024 EXM 7,000 397.9224 2,785,456.80
16/07/2024 EXM 7,300 390.2112 2,848,541.76
17/07/2024 EXM 7,650 387.3960 2,963,579.40
18/07/2024 EXM 7,500 388.4716 2,913,537.00
19/07/2024 EXM 7,500 385.7128 2,892,846.00
Total - 36,950 389.8230 14,403,960.96

(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase

Since the announcement of such Fifth Tranche till July 19, 2024, the total invested consideration has been:

  • Euro 42,214,423.87 for No. 107,950 common shares purchased on the EXM
  • USD 699,921.73 (Euro 644,792.02*) for No. 1,627 common shares purchased on the NYSE.

As of July 19, 2024, the Company held in treasury No. 14,275,243 common shares equal to 5.55% 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.

Since the start of the multi-year share buyback program of approximately Euro 2 billion announced during the 2022 Capital Markets Day, on July 1, 2022, until July 19, 2024, the Company has purchased a total of 3,451,139 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 965,603,288.60.

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 (https://www.ferrari.com/en-EN/corporate/buyback-programs).

For further information:
Media Relations
tel.: +39 0536 949337
Email: media@ferrari.com

Attachment


Primary Logo



Get the latest news and updates from Stockhouse on social media

Follow STOCKHOUSE Today