Civitanavi Systems S.p.A. (BIT:CNS) commences a share repurchases on June 5, 2023, under the program mandated by the shareholders in the Ordinary General Meeting held on April 27, 2023. As per the mandate, the company is authorized to repurchase its own shares, such that the shares held from time to time in the company's portfolio and in, if any, its subsidiaries, does not exceed a total of 20% of the company's total share capital. The shares will be repurchased at a price neither lower nor higher by more than 15% with respect to the official stock market price of the shares recorded by Borsa Italiana S.p.A. in the session preceding each individual transaction, and in any event for a maximum counter value at any time of a total of ?24 million.

The purpose of the program is to provide the company with a useful strategic investment opportunity for any purpose permitted by current regulations, for the purpose of stabilization, liquidity support and market efficiency, the purpose of obtaining the availability of a securities portfolio (c.so-called "securities warehouse") to be used as consideration in extraordinary transactions, including in the form of exchange of shareholdings, with other parties, including the allocation to the service of bonds convertible into shares of the company or bonds with warrants, dividends in shares, all of the above under the terms, purposes and in the manner that may be resolved by the competent corporate bodies or any other purpose contemplated by the market practices from time to time permitted by the supervisory authority. The authorization will be valid for a period of 18 months.