ANNOUNCEMENT OF A SHARE BUY BACK PROGRAM

The company GR. SARANTIS S.A. announces that the Extraordinary General Shareholders Meeting that took place on June 09th 2016 approved a share buyback program through the Athens Exchange and according to the provisions of article 16 of PL 2190/1920 of up to 10% of the company's shares (the 10% currently represents 3,477,098 shares), including the 437,549 shares already acquired by the company based on the resolutions of the General Shareholders Meeting of 26/06/2014.

The maximum buy back price was set at fifteen euros (15.00 €) per share and the lowest at one euro and fifty five cents (1.55 €) and the time limit for acquiring own shares was set to twenty four months from the date of the General Meeting, that is until June 09th 2018.

The purpose of the program is to serve the objectives and uses permitted by law from time to time, which today include share capital reduction, settlement of obligations arising by convertible securities or employee stock options as well as the purposes of future acquisition of another company’s shares.

Finally, the Board of Directors was authorized to act accordingly for the completion of the buyback program. 

Announcement of a share buy back program (233.7KB)