Nexans S.A. (ENXTPA:NEX) commences share repurchases on May 12, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 11, 2022. As per the mandate, the company is authorized to repurchase its own shares such that it does not hold more than 10% of its issued shares in treasury at any time. The total buyback amount shall not be more than €100 million.

The shares may be purchased at a maximum price of €140 per share. The purpose of the buyback is to improve the liquidity of the shares. The shares may be allocated, sold, or transferred to employees as part of their profit sharing in the growth of the company, or pursuant to corporate employee savings plans and/or may be used in implementing any company stock option plan.

The repurchased shares may also be cancelled. As of December 31, 2021, the company had 43,755,627 shares in issue.