PIK Spólka Akcyjna (WSE:PIK) commences share repurchases on November 17, 2015 under the program mandated by the shareholders in the Extraordinary General Meeting held on February 17, 2014. As per the mandate, the company is authorized to repurchase up to 800,000 shares, at a maximum amount of PLN 0.1 million. The share will be repurchased for the amount not lower than the nominal value of one share and not higher than PLN 5 per one share.

The shares will be acquired in order to resale them, to redeem them or to realize other purposes of the company. The repurchases will take place by way of placing broker orders, concluding blocks transactions and outside of a regulated market, as well as through the tender offers. The management has been authorized to take all legal actions connected with the purchase of the treasury shares on conditions and under the mode fixed in the resolution.

The share repurchase program is valid until December 31, 2018, but no longer than to the moment of exhausting of the financial means for repurchase.