Civitanavi Systems, the buyback plan is underway

Civitanavi Systems the buyback plan is underway

(Tiper Stock Exchange) – Civitanavi Systems announced thelaunch of the treasury share buyback programme authorized by the Shareholders’ Meeting of 27 April 2023.

The Buyback planwhich will be implemented in the ways and within the terms resolved by the aforementioned Assembly, starts June 5th 2023 until 5 October 2024. The maximum number of treasury shares that can be purchased is 1,500,000 (about 4% of the share capital) for a maximum value of 8,700,000 euros.

The request for authorization to purchase and dispose of ordinary treasury shares is aimed at providing the Company with a useful strategic investment opportunity.

For the implementation of the Buyback Plan, Civitanavi Systems has resolved to appoint Intermonte SIM as a specialized intermediary who will make decisions regarding purchases in complete independence.