PITECO S.p.A. (BIT:PITE) commences share repurchases on April 6, 2020, under the program mandated by the shareholders in the Ordinary Meeting held on January 23, 2020. As per the mandate, the company is authorized to repurchase up to 3.58% of its issued share capital, for total worth of €4 million. The repurchases may be made at a unit price that cannot differ, either decreasing or increasing, more than 20% compared to the closing price recorded by the security in the stock market session preceding each individual transaction. The shares repurchased will be used to dispose of treasury shares to be used to service any future incentive plans or may be used as consideration in extraordinary transactions. The program is valid for 18 months. As of December 19, 2019, the company had 258,780 shares, representing 1.42% of its issued share capital in treasury.