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UBI Banca to redeem shares

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UBI Banca to redeem shares

said April 6 that the ECB authorized the lender to proceed with the redemptionof 1,807,220 UBI Banca shares, subject to the exercise of the right towithdrawal, following the approval of the resolution to the bank from a joint-stockcooperative company into an ordinary joint-stock company.

The shareswill be redeemed by UBI Banca in proportion to the respective number of sharessubject to withdrawal within the total number of 35,409,477 shares for whichthat right had been exercised, taking into consideration the number of sharesalready paid Feb. 3, following the offer in option and pre-emption which tookplace between Nov. 12, 2015, and Jan. 12, 2016. The redemption will be carriedout at the payment amount set at €7.288 per share.

Thepayment will be effected through Monte Titoli SpA, with settlement taking place April 8.The purchase will becarried out by drawing on available reserves.