Gestamp Automoción, S.A. (BME:GEST) commences share repurchases on September 11, 2023, under the program mandated by shareholders in the Annual General Meeting held on May 6, 2021. As per the mandate, the company is authorized to repurchase its own shares such that the shares already held by the company does not exceed the maximum percentage legally permitted from time to time. The minimum price to be paid for repurchase is its par value and maximum price to be paid for repurchase is its market value on the date of acquisition plus 10%. The shares repurchased can be sold, redeemed, transferred or awarded directly to employees or directors of the company or its subsidiaries. The authorization will be valid for 5 years.

On September 4, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 3,000,000 shares, representing 0.52% of its share capital for ?15 million. The price to be paid shall not exceed the higher of the price of the last independent transaction and the highest price independently offered on the trading center where the purchase is made, at the time the transaction is carried out. The purpose of the program is to provide the Company with sufficient treasury stock to enable the delivery of Company shares to certain of its employees, beneficiaries of the current long-term incentive program. The program will commence from September 6, 2023, and will be valid till December 20, 203.