Cogelec SA (ENXTPA:ALLEC) commences share repurchases on November 22, 2022, under the program mandated by the Annual General Meeting held on June 23, 2022. As per the mandate, the company is authorized to repurchase shares for €5 million, such that the company's holding in treasury together with the shares repurchased does not exceed 10% of its issued share capital at any point of time, however, the number of shares acquired with a view to their holding and subsequent remittance for payment or in exchange as part of a merger, spin-off or tender may not exceed 5% of the share capital. The shares will be repurchased for a maximum of €23.5 per share.

The repurchased shares will be used to foster liquidity, under a liquidity contract in accordance with an ethics charter recognized by the AMF and entered into with an investment services provider, implement any company stock option plan, award bonus shares, award shares to employees in respect of their contribution to the profits of the company's expansion and implement any company savings plan, hold shares for subsequent remittance as payment or exchange in external growth transactions, remit shares when the rights attached to marketable securities giving access to the company's share capital are exercised, cancel all or part of the shares thusly bought back in order to reduce the share capital, under and subject to the authorization of the current extraordinary general meeting. The program is valid for 18 months.