SA Catana Group commences an Equity Buyback Plan for 10% of its issued share capital, for €46.06 million, under the authorization approved on February 24, 2022.

SA Catana Group (ENXTPA:CATG) commences share repurchases on June 14, 2022, under the program mandated by the shareholders in the Annual General Meeting held on February 24, 2022. As per the mandate, the company is authorized to repurchase its own shares up to 10% of its issued shares. The total buyback amount shall not be more than €46.06 million.

The shares may be purchased at a maximum price of €15 per share. The purpose of the buyback is to improve the liquidity of the shares. The shares may be allocated, sold, or transferred to employees as part of their profit sharing in the growth of the company, or pursuant to corporate employee savings plans and/or may be used in implementing any company stock option plan.

The repurchased shares may also be cancelled. The repurchase authorization is valid for 18 months.