Pharol, SGPS S.A. (ENXTLS:PHR) commences share repurchases on August 28, 2019 under the program mandated by the shareholders in the Annual General Meeting held on March 29, 2019. The consideration of the acquisition should fall within an interval of 25% less than the lowest trading price and 25% more than the average trading price of the shares to be acquired on the Euronext Lisbon during the three regulated market sessions immediately preceding the date of the acquisition or the creation of the right of acquisition or allocation of shares, or should correspond to the acquisition price resulting from any contracted financial instruments. The plan is valid till 18 months from the date of approval of the program.