Iktinos Hellas SA (ATSE:IKTIN) commences share repurchases on December 27, 2016, under the program mandated by the shareholders in the Extraordinary General Meeting held on December 20, 2016. As per the mandate, the company is authorized to repurchase up to 2,682,161 shares, representing 9.44% of its shares outstanding. The minimum price which may be paid is €0.40 per share and the maximum price which may be paid is €6 per share. The identification process, mode of acquisition of own shares, timing and method for reallocating equity shares to the shareholders of the company will be determined by decisions of the Board of Directors of the company. The program will be valid for 12 months. As of December 20, 2016, the company had 28,580,100 shares in issue and 175,849 shares in treasury. On January 27, 2017, the company announced that it may repurchase its own shares above the 25% limit of the average daily volume, without exceeding 50%. The repurchases will be made from January 30, 2017 to April 30, 2017.