BMps: over 22 mln shares allocated to the employees as part of the 2008 stock granting scheme
Siena - Banca Monte dei Paschi di Siena has completed its stock granting scheme for 2008 by allocating a total of 22,077,298 shares, 21,974,833 of which subject to a three-year non-transferability restriction until 9 December 2012. The assignment follows the information document concerning the offer of shares without consideration to employees which was filed by Banca Monte Paschi on 3 November 2009, pursuant to the requirements set out for the payment of part of the company bonus for financial year 2008.
The information document was drawn up in accordance with art. 84 bis, par.1 of Consob Regulation no. 11971/99, in fulfilment of the obligation to disclose information on the assignment of financial instruments to employees.
On 19 November 2009, the Shareholders’ Meeting of Banca Monte dei Paschi di Siena SpA resolved upon the measures to implement the plan of stock assignment without consideration via the use of own shares purchased on the market. On 19 November 2009, Banca Mps entrusted Intermonte SIM S.p.A. with the purchase of the shares on the market, according to the terms and conditions laid down by Commission Regulation (EC) no. 2273/2003 until completion of the share purchase plan. Disclosure of this was given in the press release reporting the resolutions adopted by the Shareholders' Meeting.
Pursuant to art. 2357 of the Italian civil code, 24,993,500 BMPS shares have been purchased in total since 20 November 2009, at an average price of EUR 1.30432 for a total equivalent value of EUR 32,599,636.
The share incentive was therefore awarded pursuant to art. 2357 ter of the Italian civil code and was addressed to all employees in service as at the date of grant (10 December 2009).