FERRARI SHARE REPURCHASE PROGRAM
12 March 2021 - 4:58AM
Maranello (Italy), March 11, 2021 - Ferrari N.V.
(NYSE/MTA: RACE) (“Ferrari” or the
“Company”) communicates its intention to restart
its multi-year share repurchase program announced on December 28,
2018 (the “Program”) with a fourth tranche of up
to Euro 150 million to start on March 12, 2021 (“Fourth
Tranche”) and to end no later than September 30, 2021, of
which up to Euro 120 million to be executed on the MTA market under
a non-discretionary share repurchase agreement with a primary
financial institution and up to Euro 30 million to be executed on
the NYSE under an additional mandate with a primary financial
institution.According to the Program, to date Ferrari has acquired
3,809,334 common shares for a total consideration of
approximately Euro 513 million, with the last purchase having been
made on March 30, 2020, when the Program was temporarily suspended
at the inception of the pandemic outbreak.The Fourth Tranche will
be conducted in the framework of the resolution adopted by the
Annual General Meeting of Shareholders held on April 16, 2020. The
repurchases will be made in accordance with applicable laws and
regulations.As of today, the Company holds 9,175,609 common shares
in treasury.
1 Including the share repurchased by Ferrari according to
the standard practice Sell to Cover deriving from the 2019 equity
incentive plan
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