Banco Bilbao Vizcaya Argentaria SA Inside information Buyback Program (9475E)
16 March 2022 - 6:00PM
UK Regulatory
TIDMBVA
RNS Number : 9475E
Banco Bilbao Vizcaya Argentaria SA
16 March 2022
Banco Bilbao Vizcaya Argentaria, S.A. ("BBVA" or the "Company"),
in compliance with the Spanish Securities Market legislation,
hereby proceeds to notify the following:
INSIDE INFORMATION
Further to the notice of:
(i) the Inside Information of 29 October 2021, with registration
number 1127 (the "Initial II"), reporting that the Board of
Directors of BBVA had agreed to carry out a program scheme for the
repurchase of shares, to be executed in several tranches, for a
maximum amount of up to 3,500 million euros, for the purpose of
reducing BBVA's share capital (the "Program Scheme") ([1]) ;
and
(ii) the Inside Information of 3 February 2022, with
registration number 1277, reporting that the Board of Directors of
BBVA had agreed, within the scope of the Program Scheme in force,
to carry out a second share repurchase program for a maximum amount
of up to 2,000 million euros (the "Second Program Agreement");
BBVA hereby gives notice that it has agreed to carry out the
Second Program Agreement, to be executed:
(i) by implementing a first segment through an external
lead-manager for an amount of up to 1,000 million euros (the "First
Segment"), all in accordance with Regulation (EU) No. 596/2014 of
the European Parliament and of the Council of 16 April 2014 on
market abuse and Commission Delegated Regulation (EU) No.
2016/1052, of 8 March 2016, (the "Regulations"); and
(ii) upon full execution of the First Segment, by implementing a
second segment that completes the Program Scheme, for a maximum
amount of 1,000 million euros or for a maximum number of shares to
be determined based on the number of own shares finally acquired in
execution of the First Segment.
All of the above, notwithstanding the possibility to suspend or
early terminate the Program Scheme upon the occurrence of
circumstances that make it advisable, as set forth in the Initial
II.
The First Segment will be executed under the terms and
conditions detailed below:
Purpose: To reduce BBVA's share capital by means
of the redemption of the acquired shares.
Maximum cash amount: The maximum cash amount will be 1,000 million
euros.
Maximum number of The maximum number of BBVA shares to be
shares: acquired shall not exceed 356,551,306.
Start of the execution: Execution will start on 16 March 2022.
End of the execution: The First Segment will end neither before
16 May 2022 nor later than 30 June 2022
and, in any event, when within such period
the maximum cash amount is reached or the
maximum number of shares is acquired.
However, the Company reserves the right
to temporarily suspend or to early terminate
the execution in the event of any circumstance
that so advises or requires.
Trading venues: The acquisitions will be made on the Spanish
Electronic Trading Interconnection System
- Continuous Market, as well as on DXE
Europe, Turquoise Europe and Aquis Exchange.
Manager: The execution will be carried out externally
through Goldman Sachs International, who
will make its decisions concerning the
timing of the purchases of the BBVA shares
independently of the Company. The Manager
shall execute the trades through Kepler
Cheuvreux, S.A. as broker.
Other conditions: The own shares will be purchased observing
in all cases the conditions and the limits
established in the Regulations. In particular,
shares purchased on any trading day may
not exceed 25% of the average daily volume
of the shares on the trading venue on which
the purchase is made, and the average daily
volume of each trading venue will be that
corresponding to the twenty trading days
prior to the date of each purchase.
The share purchases made, as well as the interruption or
termination of the execution of the First Segment, will be duly
reported to the Spanish National Securities Market Commission and
the appropriate authorities in accordance with the Regulations.
Madrid, 16 March 2022
([1]) In accordance with the authorization granted by the
European Central Bank, the Program Scheme is additionally limited
to the repurchase of shares representing up to 10% of BBVA's share
capital, and may be implemented within a maximum period of one year
from the publication of the Initial II.
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END
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