FERRARI N.V.: COMPLETION OF THE FIFTH TRANCHE OF THE DISCLOSED MULTI-YEAR SHARE REPURCHASE PROGRAM AND ANNOUNCEMENT OF THE SIXTH TRANCHE
Ferrari N.V. (RACE) announced the completion of its Fifth Tranche share buyback program, purchasing 22,891 shares on the NYSE from February 22 to March 2, 2022. The total consideration for these shares amounted to approximately $4.96 million. Since the program's initiation on October 4, 2021, Ferrari has repurchased a total of 570,960 shares for around €120 million and $34 million. The company plans to launch a Sixth Tranche buyback program of up to €120 million starting on March 4, 2022, emphasizing ongoing confidence in shareholder value.
- Completed Fifth Tranche of buyback program with a total consideration of approximately $4.96 million.
- Total buyback since October 2021 reached €120 million, reinforcing commitment to shareholder value.
- Upcoming Sixth Tranche buyback program of up to €120 million indicates strong financial health and investor confidence.
- None.
Maranello (Italy), March 3, 2022 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the fifth tranche of the common share buyback program announced on October 4, 2021 (“Fifth Tranche”), additional common shares - reported in aggregate form, on a daily basis - on the New York Stock Exchange (NYSE) as follows:
| Trading Date (dd/mm/yyyy) | Stock Exchange | Number of common shares purchased | Average price per share excluding fees ($) | Consideration excluding fees ($) | Consideration excluding fees (€)* |
| 22/02/2022 | NYSE | 20,230 | 217.4715 | 4,399,448.45 | 3,878,900.06 |
| 02/03/2022 | NYSE | 2,661 | 210.4052 | 559,888.24 | 504,131.31 |
| Total | - | 22,891 | 216.6501 | 4,959,336.68 | 4,383,031.37 |
(*) translated at the European Central Bank EUR/USD exchange reference rate as of the date of each purchase
Since the announcement of the Fifth Tranche of the buyback program dated October 4, 2021 till March 2, 2022, the total invested consideration has been:
Euro 119,999,914.85 for No. 570,960 common shares purchased on the EXM- USD 34,098,790.46 (
Euro 29,998,949.45 *) for No. 149,950 common shares purchased on the NYSE.
With the purchases described above the Company has completed the Fifth Tranche of the program announced on October 4, 2021.
Since January 1, 2019 until March 2, 2022, the Company has purchased a total of 5,308,487 own common shares on EXM and NYSE for a total consideration of
As of March 2, 2022, the Company held in treasury No. 10,493,813 common shares equal to
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).
The Company intends to continue its already disclosed multi-year share repurchase program with a sixth tranche of up to
The Sixth Tranche will be conducted in the framework of the resolution adopted by the Annual General Meeting of Shareholders held on April 15, 2021. The repurchases will be made in accordance with applicable laws and regulations.
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