Author Topic: SHARE INVESTMENT PLAN FINALISED FOR PRYSMIAN’S LEADERSHIP TEAM  (Read 91 times)

Marsilia Savia NERA

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SHARE INVESTMENT PLAN FINALISED FOR PRYSMIAN’S LEADERSHIP TEAM

Milan, Italy   -   06/01/2020 - 10:03 AM

Prysmian S.p.A. announces that the agreements between the Group’s leadership team, composed of Group CEO Valerio Battista and the managers reporting directly to him, and the financial intermediary engaged to execute the Company’s share investment scheme, announced to the market in the press release of 3 April 2020, have been finalised.
According to the terms of these agreements, the Group Leadership Team has engaged the financial intermediary to purchase Company shares on the market for a total of approximately €1,500,000, corresponding to approximately 50% of the net incentive accrued to each manager in respect of financial year 2019 (the “2019 MBO”).
The share purchases will be made by the financial intermediary during the period between the first and fifth business day after the date on which the funds for the purchases are made available to it to this end. The funds in question have been made available to the financial intermediary today.
The instructions given by each manager included in the Group Leadership Team to the financial intermediary include the authorisation for a lock-up of the shares purchased until the end of 2022.
The Company will promptly confirm the investment to the market once it has been fully completed. Prysmian Group is a public company with a broad shareholder base that includes also its employees. Its approximately 9,000 employee-shareholders hold over 3% of the share capital as a result of a stock ownership plan and the share-based incentive plans that the Company has implemented for some time.

source : SHARE INVESTMENT PLAN FINALISED FOR PRYSMIAN’S LEADERSHIP TEAM

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