(Alliance News) - Italian Wine Brands Spa announced Friday the launch of a new share buyback program, in execution of the resolution passed at the April 27 ordinary shareholders' meeting.

The purchases, the company specifies in a note, will concern a maximum of 30,000 ordinary shares, with no indication of par value, for a maximum countervalue set at EUR900,000.

The program can be implemented within 18 months of the April 27 shareholders' meeting resolution, and thus by October 27, 2024.

Italian Wine Brands is down 1.1 percent at EUR18.70 per share.

By Chiara Bruschi, Alliance News reporter

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