Rubis (ENXTPA:RUI) commences share repurchases on January 6, 2021, under the program mandated by the shareholders in the Combined Shareholders’ Meeting held on December 9, 2020. As per the mandate, the company is authorized to repurchase up to €250 million worth of shares , representing 10% of its issued share capital such that the company holds at any time, directly or indirectly, may not exceed 10% of the shares comprising its capital on the date in question. The shares will be purchased at a price not exceeding €55 per share. The repurchased shares will be totally or partially be cancelled with a view of reducing the capital. The purpose of the program is to provide liquidity. The program is valid for 18 months from the date of the meeting. On January 5, 2021, the company announced a share repurchase program. Under the program the company has entered into a mandate with an investment services provider to repurchase 6,600,000 shares at a price not exceeding €55 per share. The objective is to reduce the company's share capital by cancelling shares. The repurchases will commence from January 6, 2021 and the program will run till May 31, 2022.