Aeffe S.p.A. (BIT:AEF) commences share repurchases on May 14, 2021, under the program mandated by the shareholders in the Annual General Meeting held on April 28, 2021. As per the mandate, the company is authorized to repurchase its own shares such that it does not hold more than 10% of its issued shares in treasury at any time. The shares may not be purchased at a price higher than the highest between the price of the last independent transaction and the current highest independent purchase offer on the trading venue of the purchase. The company has entered into the repurchase program in order to use the treasury shares purchased as possible consideration for the acquisition of equity investments, to carry out investment transactions in compliance with current regulations, either directly or via authorized intermediaries in the context of the investment policy adopted by the company and to benefit, if deemed strategic by the Board of Directors, from any investment or divestment opportunities that may arise, in relation to the liquidity available. The repurchase authorization is valid for 18 months.