Treasury shares
The Shareholders' Meeting of April 20, 2009 granted the Board of Directors the authority to buy back and dispose of the Company's ordinary shares with a par value of Euro 1.30 each, up to a maximum amount that, together with the shares already held, represents no more than 10% of share capital. At the same time, the shareholders revoked the unexecuted part of the previous authority relating to the buy back and disposal of shares granted on April 24, 2008. This authority was granted for a period of 18 months commencing April 20, 2009. The minimum purchase price may not be 30% below the official share price reported in the trading session prior to each individual transaction, while the maximum purchase price may not be 20% above such official share price; the disposal price may not be less than 90% of the official share price reported in the trading session prior to each individual transaction.
At the current date, the Board of Directors had not yet commenced the new buy-back program permitted under the above authority. At March 18, 2010, the Company held 10,345,910 treasury shares, corresponding to 5.663% of share capital and purchased at a cost of Euro 71.7 million (excluding commissions).
Shares held by directors, statutory auditors and key management personnel
The directors Luciano, Gilberto, Giuliana and Carlo Benetton directly and indirectly control, in equal shares, the entire share capital of Edizione S.r.l., the company which controls Benetton Group S.p.A. with an interest of 67.079%.
Except as specified in the following table, none of the directors, statutory auditors or managers with key positions in Benetton Group S.p.A., their spouses, unless legally separated, or their minor children, has held shares during 2009 in Benetton Group S.p.A. or its subsidiaries, either directly or through companies under their control, trust companies or other intermediaries.
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No. of shares
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No. of
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No. of
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No. of shares
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held as of
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shares
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shares
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held as of
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Type of
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Name and surname
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12.31.2008
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Company held
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purchased
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sold
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12.31.2009
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ownership
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Luciano Benetton
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330,000
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Benetton Group S.p.A.
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-
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330,000
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-
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Owned
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Alessandro Benetton
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49,500
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Benetton Group S.p.A.
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-
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-
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49,500
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Owned
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Gerolamo Caccia Dominioni (*)
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50,000
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Benetton Group S.p.A.
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-
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-
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50,000
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Owned
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Antonio Cortellazzo
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1,000
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Benetton Group S.p.A.
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-
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-
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1,000
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Owned
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(*) Gerolamo Caccia Dominioni, the Chief Executive Officer, sold 50,000 shares in Benetton Group S.p.A. on January 28, 2010.