Pharma Mar, S.A. (BME:PHM) commences share repurchases on August 1, 2023, under the program mandated by shareholders in the Annual General Meeting held on May 31, 2023. As per the mandate, the company will repurchase its own shares, such that the shares held by company does not exceed 10% of company's subscribed share capital. The maximum price to be paid for the repurchase should not exceed 10% r than the trading price of the Company's shares in the Spanish Stock Exchange Interconnection System at the time of acquisition and minimum price to be paid for repurchase is its par value. The shares repurchased will be disposed, amortized through the the consequent reduction of capital, delivered to its delivery to employees, executives or directors and reinvestment plans for dividends or similar instruments. The authorization will be valid for 5 years from the date of the Annual General Meeting.

On July 27, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 540,000 shares,representing approximately 2.94% of the Company's share capital for ?15 million. The repurchases under the program will start from August 1, 2023, and will end no later than January 31, 2024.