Gibus S.p.A. (BIT:GBUS) commences share repurchases on September 18, 2023, under the program mandated by the shareholders in ordinary shareholders' meeting held on April 27, 2023. As per the mandate, the company is authorized to repurchase up to 988,301 shares, representing 19.73% of its share capital for ?1.3 million worth of its shares. The repurchases will be made such that the holding of company's shares do not exceed 20% of the share capital.

The purchases may be made at a minimum price of not less than 20% and at a price maximum not exceeding 20% of the reference price that the security will have recorded by Borsa Italiana SpA in the session preceding the completion of each individual transaction, no shares may be purchased at a price higher than the higher of the price of the last independent transaction and the price of the current independent purchase offer plus elevated in the trading venue where the purchase is made. The program will be valid for 18 months. As of April 27, 2023, the company had 5,008,204 outstanding shares and 16,675 treasury shares.