AB Zemaitijos pienas (NSEL:ZMP1L) commences share repurchases on August 30, 2022, under the program mandated by the shareholders in the Ordinary General Meeting held on April 2, 2021. As per the mandate, the company is authorized to repurchase up to 10% of its issued share capital. The shares will be repurchased at a minimum price of €1 per share and maximum price of €1.95 per share.

The purpose of the program is to increase, maintain and/or stabilize the liquidity and the market price of the company's shares, to contribute to the company's better results, and to sell its own shares to the company's employees. The authority will be valid until 18 months.