Züblin Immobilière France S.A. (ENXTPA:OFP) commences share repurchases on July 7, 2016 under the program mandated by the shareholders in the Ordinary and Extraordinary General Meeting held on July 7, 2016. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital such that the percentage is capital adjusted for the operations of the company, or by way of indication. The shares will repurchased at a maximum price of €2 per share and the maximum amount allocated for repurchase is €0.3 million. The repurchase of shares may be carried out by any means in accordance with the regulations in force, on one or more occasions, by intervention on the market or over-the-counter, in particular by block transactions, through the use of financial contracts traded on a regulated market or over-the-counter or bonds or securities giving rights to shares in the company, or the implementation of optional strategies, insofar as these means do not contribute to a significant increase in the volatility of the security, or by the issuance of securities giving right by conversion, exchange, redemption, exercise of a bond or in any other manner, to shares of the company held by it. The shares will be repurchased by the company with an aim of retention and subsequent delivery as payment or exchange in connection with a merger, demerger or contribution transaction may not exceed 5% of its capital and that when shares are repurchased to promote liquidity under the conditions defined by the General Regulation of the Autorité des Marchés Financiers, the number of shares taken into account for the calculation of the 10% limit will correspond to number of shares purchased, less the number of shares resold during the term of the authorization. The purpose of the repurchase program is to ensure the liquidity of transactions and the regularity of quotations of the company's securities under a liquidity contract concluded with an investment service provider acting in compliance with a code of ethics recognized by the AMF, and to retain the shares purchased with a view to their subsequent delivery on the exercise of rights attached to securities giving access to the share capital of the company and for subsequent exchange or payment in connection with potential acquisitions and to cancel all or part of the shares purchased by way of reduction of share capital and to retain the shares purchased to honor obligations related to stock option plans, bonus share grants, employee savings plans or other share allocations to employees and officers of the company or companies. Repurchases will be made at such times as the Board of Directors may decide, all in compliance with applicable legal and regulatory provisions. Repurchases will be in accordance with the provisions of Articles 241-1 to 241-5 of the General Regulations of the Autorité des Marchés Financiers and European Regulation n ° 2273/2003 of December 22, 2003. The share repurchase program is valid for 18 months, until January 7, 2018. As of July 7, 2016, the company has 58,819 shares in treasury.