Milano, 20 November 2002
Notice is hereby given of the outcome of the exercise of the IntesaBci Put Warrants which took place from 1st to 15th November 2002, with payment due on 29th November 2002.
The number of Put Warrants exercised was 329,974,586 and the number of IntesaBci ordinary shares sold was 478,458,236 amounting to € 2,574,105,309.68.
The purchase of the treasury shares is paid with the cash flow from securities reaching maturity now, which were placed as guarantee for relevant payment at the time of the 1999 Tender Offer from Banca Intesa for 70% of BCI’s share capital.
The book value of each own share repurchased following the exercise of the Put Warrants was marked to market at IntesaBci’s stock price at the end of September 2002, which equalled 1,7 euro, through the approximately € 1,700 million provisions relative to the Put Warrants accounted for as a whole over the period from the second quarter 2001 to the third quarter 2002.
The exercise of the Put Warrants leads to an approximately 10 bp decline in the Tier 1 Capital Ratio.
Last updated 20 November 2002 at 11:21
