Papoutsanis S.A. commences an Equity Buyback Plan for 1,354,929 shares, representing 5.02% of its issued share capital, under the authorization approved on May 18, 2023.

Papoutsanis S.A. (ATSE:PAP) commences share repurchases on May 19, 2023, under the program mandated by the shareholders in the Annual General Meeting held on May 18, 2023. As per the mandate, the company is authorized to repurchase up to 1,345,929 shares, representing 5.02% of its issued share capital. The maximum purchase price of the Company's own shares will be €4 each share and their minimum purchase price of €1 per share.

The acquired shares may be disposed of in any manner permitted by law. Indicatively, the same shares may (a) be cancelled, following a decision of the general meeting to reduce the share capital, and/or (b) be allocated to the staff and/or members of the Company's management in the context of the establishment of a distribution program of shares. The share repurchase program is valid for 24 months till May 18, 2025.

As of May 18, 2023, the company had 27,098,594 shares issued of which 117,172 shares were in treasury.