Ferrari (NYSE:RACE) Reports on Share Buyback Program

Ferrari (NYSE:RACE) Reports on Share Buyback Program

$RACE

Summary:

  • Ferrari repurchased 78,055 common shares for €7.04-M till 10 January 2019, under the repurchase program announced on 28 December 2018.
  • The company share repurchase resulted in 6.08-M common shares held in treasury as of 10 January 2019. As of the same date, the Company held 2.43% of the total issued share capital including the common shares and the special voting shares.

Ferrari (NYSE:RACE) announces that under the common share buyback program announced on 28 December 2018, the Company has purchased common shares reported in aggregate form, on daily basis, on the Italian Stock Exchange (MTA) as follows:

Trading Date Stock Exchange

Number of common shares purchased   Average price per share excluding fees in Euros


02/01/2019 MTA 15,000 85.7773 1,286,659.50
03/01/2019 MTA 13,167 85.4451 1,125,055.63
04/01/2019 MTA 8,199 87.2593 715,439.00
07/01/2019 MTA 12,026 90.1954 1,084,689.88
08/01/2019 MTA 7,404 93.2450 690,385.98
09/01/2019 MTA 9,275 97.1390 900,964.23
10/01/2019 MTA 12,984 95.7667 1,243,434.83

Total: 78,055 for the period and 7,046,629.06 for the program to date.

Since the announcement of the buyback program dated 28 December 2018 till 10 January 2019, the total invested consideration has been Euro 7,046,629.06 for No. 78,055 common shares purchased resulting in No. 6,080,898 common shares held in treasury as of 10 January 2019. As of the same date, the Company held 2.43% of the total issued share capital including the common shares and the special voting shares.

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 (http://corporate.ferrari.com/en/investors/stock-and-shareholder-corner/buyback-programs.

Source: Ferrari N.V. 2019

HeffX-LTN’s overall technical outlook for RACE on the week ended 11 January 2019 is Neutral to Bullish.

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