Initiation of Share Buy-back Programme
OPAP S.A. (“OPAP” or the “Company”) announces to the investment community that, following the resolution of the Annual Ordinary General Assembly of its shareholders that took place on 27/04/2023 (the “General Assembly”) on the establishment of a share buy back programme and the announcement of the same day and following the decision of its Board of Directors of 04/09/2023, the Company intends to proceed to the purchase of own shares the nominal value of which will not exceed the approved by the General Assembly limit of five percent (5%) of the Company’s paid up capital (i.e. up to 18.167.092 shares) during the period from 05/09/2023 until 31/12/2024 at a minimum purchase price equal to the nominal value of the share (€ 0,30) and maximum purchase price equal to twenty Euros (€ 20) per share. Purchases shall take place for all the scopes and uses permitted by applicable legislation and in compliance with the provisions of articles 49 and 50 of Law 4548/2018 in conjunction with the provisions of Regulation (EU) 596/2014 of the European Parliament and of the Council, on market abuse and Commission Delegated Regulation (EU) 2016/1052. The maximum amount for the share buy back during this period is estimated at approximately 150.000.000 Euros, excluding relevant expenses. The final amount and the final number of own shares to be purchased during the aforementioned period shall depend on market conditions and Company’s share price and liquidity.
It is noted that the share buy back programme approved by the General Assembly expires on 17/06/2025.
The announcement is issued in accordance with Regulation (EU) 596/2014 of the European Parliament and of the Council, Commission Delegated Regulation (EU) 2016/1052 and Athex Exchange Rulebook.
ATHENS, 04.09.2023
OPAP S.A.
