Erbud S.A. (WSE:ERB) commences share repurchases on May 11, 2021, under the program mandated by the shareholders in the Annual General Meeting held on May 11, 2021. As per the mandate, the company is authorized to repurchase up to PLN 20 million worth of its common stock. The repurchase price may not be lower than PLN 80 and higher than PLN 120 per share. The repurchase program will be funded from reserved capital of the company. All the repurchased shares will be cancelled. If the number of tendered shares offered by the shareholders is higher than the total number of shares specified by the company in the announced invitation, the company shall reduce the shareholders' offers proportionally by rounding down the fractional number of shares to the nearest whole number. The plan will be valid till December 31, 2021.