Itissalat Al-Maghrib (IAM) S.A. (CBSE:IAM) announces a share repurchase program. Under the program, the company will repurchase up to 1,500,000 shares, representing 0.17% of its issued share capital. The shares will be repurchased at a maximum price of MAD 198 per share and minimum price of MAD 92 per share.

The share repurchases will be funded from its own reserves. The repurchase program is subject to the shareholder approval in the company's Ordinary General Meeting to be held on April 29, 2020. The share repurchase program is valid for 18 months from the date of commencement of the program.