Monnari Trade S.A. (WSE:MON) commences share repurchases on January 24, 2018, under the program mandated by the shareholders in the Extraordinary General Meeting held on January 10, 2018. As per the mandate, the company is authorized to repurchase its own shares. The shares will be repurchased at a price not exceeding the value higher from the price of the last independent stock exchange transaction and the highest current independent offer to buy on the stock exchange and the minimum purchase price of the shares will not be lower than PLN 0.10 per share and will not be higher than PLN 22 per share. The repurchased shares will be redeemed or resold and will be pledged to secure liabilities of the company, its ownership can be transferred as payment for the acquisition of financial assets by the company or any of its subsidiaries and may be sold under an obligation to repay the company's shares which are the subject of the loan and pay for the loan, if it is expressed in the company's shares. The repurchase program will be funded from reserve capital of the company. The program will be valid for a period of 5 years from the date of adoption of the resolution.