Autogrill launches share buy-back programme

Milan , 18 June 2014 - Pursuant to art. 144-bis, clause 3, Consob Regulation 11971/1999 (“Issuers’ Regulation”), Autogrill S.p.A. (Milan: AGL IM) has announced the launch of a share buy-back programme for a total of 12,720,000 ordinary treasury shares (5% of the share capital), as authorized by the shareholders’ meeting held on 28 May 2014.

The programme allows the Company to carry out investment operations and to set up of a pool of securities, directly or through intermediaries, as allowed by current legislation. It may also be used for share capital transactions or other operations for which it is necessary or advisable to trade or transfer stock, as well as for stock incentive plans for executive directors and/or the employees of the Company and/or its subsidiaries.

The minimum and maximum price (inclusive of purchase charges) of each purchase made for the first purpose mentioned above must not be more than 20% lower or 20% higher than the official price of Autogrill shares recorded on the trading day before the date of effectuation of each transaction. If the purchase is made for the other two purposes above, the minimum and maximum price must not be more than 20% lower or 20% higher than the weighted average of the official prices recorded over the last ten trading days prior to the date of purchase. On the basis of this criterion established by shareholder resolution, the Company is not able to estimate as of today the maximum equivalent value of the purchases that will be made under the programme.

Buy-back transactions may be made on regulated markets, also through the trading of options or financial instruments deriving from Autogrill’s equity, in compliance with the applicable provisions of the law and regulations. The number of treasury shares purchasable on any given day may not exceed 25% of the average daily volume of Autogrill shares traded on the market over the 20 trading days prior to each date of purchase.

By the second day of the trading week the Company will give notice to the market and the relevant authorities of the details (number of shares purchased, average price and total equivalent value) of the transactions made in the previous trading week.

As of today, the Company holds 905,798 treasury shares (around 0.36% of the share capital). The buy-back programme may also be implemented in a number of tranches within 18 months of the date of the aforementioned shareholders’ resolution, ie. by 27 November 2015.

The shareholders’ authorization does not obligate the Company to make purchases and the programme may therefore also be implemented only partially and its implementation may be revoked at any moment provided timely market disclosure is made.