GEDI Gruppo Editoriale S.p.A. (BIT:GEDI) commences share repurchases on January 2, 2020, under the program mandated by the shareholders in the Annual General Meeting held on April 19, 2019. As per the mandate, the company is authorized to repurchase up to 20,000,000 shares, representing 3.93% of its issued shares. The shares will be repurchased at a price no higher and no less than 10% with respect to the reference price reported by the ordinary shares in the session of the organized market prior to each transaction. The shares repurchased will be used to fulfill obligations deriving from share option programs, any debt instruments convertible or exchangeable with share instruments or to set up a portfolio of treasury stocks to be used as payments in extraordinary transactions or to carry out activities to support market liquidity or to take the opportunity to create value and ensure efficient use of liquidity in relation to the performance of the market. The share repurchase program shall expire after 18 months. As of March 18, 2019, the company had 508,690,479 shares in issue and as of March 1, 2019, the company had 21,987,922 shares in treasury.