Announcement Regarding the Acquisition of the Company’s Own Shares
Announcement Regarding the Acquisition of the Company's Own Shares
"ADMIE (IPTO) HOLDING S.A." (or “Company”) announces to investors that according to the provisions of Law 4548/2018 in conjunction with the provisions of Regulation (EU) No 596/2014 of the European Parliament and of the Council, on market abuse and of its supplementing Commission Delegated Regulation (EU) 2016/1052, with regard to regulatory technical standards for the conditions applicable to buy-back programs and stabilization measures, the Annual Ordinary General Assembly of its shareholders that was held on 16.07.2020 decided and set the details for the acquisition by the Company of its own shares, through the Athens Exchange, up to a percentage of 1% of the total paid up share capital of the Company.
The acquisition of the Company's own shares shall be made provided that on a case by case basis are considered to be at the Company's own benefit, preferential to other available investment options and as long as the Company's cash flow allows for such acquisitions and for purposes provided for by the Regulation (EU) No 596/2014 of the European Parliament and of the Council, on market abuse and of its supplementing Commission Delegated Regulation (EU) 2016/1052, with regard to regulatory technical standards for the conditions applicable to buy-back programs and stabilization measures. The proposed program for the acquisition of the Company's own shares shall be completed within twenty four months as from the date of the decision of the General Assembly, namely the latest by 15th July, 2022 and will be implemented at a maximum acquisition price of 10 euros per share and a minimum acquisition price equal of 1 euro per share.
Furthermore, the Company's Board of Directors was authorized to determine the specific terms and details for the implementation of the program for the acquisition of the Company's own shares.
Athens, July 17, 2020