Banco Sabadell has informed the National Securities Market Commission (CNMV) that it has already executed 74.4% of its new share buyback program for a total planned amount of 365 million euros.
This buyback plan started on June 1, just after the previous program, which had a maximum volume of 435 million euros, concluded on May 28. The limit of shares to be acquired in the new scheme will depend on the average price at which the purchases are made, but in no case may it exceed 488,821,156 shares, nor the number of shares that, added to existing treasury shares, represent more than 10% of the share capital.
During the fifth week of execution, the Catalan entity acquired 15 million shares, paying an average price of 3.12 euros per share and allocating 46.9 million euros to these operations. In total, since the beginning of the program, Sabadell has repurchased 90.5 million shares, for which it has disbursed 271.7 million euros.
Among the restrictions set in the plan is that Banco Sabadell may not buy shares at a price higher than the highest of the last independent transaction carried out and the highest independent offer in force at that time in the trading venue where the order is executed.
Regarding the calendar, the buyback program will have a deadline of December 31, 2026, although it could conclude earlier if the maximum planned amount is reached or if the target number of shares is met. Purchases can be made both on the Mercado Continuo and on CBOE DXE.