ITALY: Consob announces temporary Italy short selling ban in Saipem

Tuesday January 13 2015

The Italian securities regulator Consob has announced its decision to temporary prohibit Italy short sales of SAIPEM shares (ISIN code IT0000068525).

The prohibition was adopted pursuant to Article 23 of the EU Regulation on short selling, considering the price change recorded by the share on 12 January 2015 (in excess of 10%).

The ban will apply for the entire trading session of Tuesday 13 January 2015, on the MTA market of Borsa Italiana.

The prohibition does not apply to the activity of market making.

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