MakoLab Spólka Akcyjna (ATSE:MLB) commences share repurchases on August 16, 2016 under the program mandated by the shareholders in the Ordinary General Meeting held on June 29, 2016. As per the mandate, the company is authorized to repurchase up to 350,000 own shares. The repurchases will be made at the market price but not higher than PLN 5 per share and not lower than PLN 1 per share. The repurchased shares will be cancelled. The company has allocated PLN 1.8 million for the repurchase of its shares, to be paid out of capital reserve created from the amount which, in accordance with Article. 348 § 1 of the Code of Commercial Companies can be distributed among the shareholders. The Management Board can complete the acquisition of own shares prior to the duration of the program, after considering the interest of the company, and with the prior approval of the Supervisory Board. The share repurchase program is valid until December 31, 2018 but no longer than until the exhaustion of the funds allocated for their purchase.