Saccheria F.lli Franceschetti S.p.A. (BIT:SAC) commences share repurchases on January 10, 2024, under the program mandated by shareholders in the Ordinary shareholder's meeting held on December 21, 2023. As per the mandate, the company is authorized to repurchase up to 177,010 shares, representing 2% of its share capital for ?0.4 million. The repurchases should be made such that the shares held by the company in its portfolio does not exceed 177,010 shares.

The price to be paid for repurchase should not exceed more or less than 10% of the reference price recorded by the stock in the stock market session preceding each individual transaction. The purpose of the program is to stabilize company's securities, support of market stability and efficiency, to fulfill obligations deriving from share option programs or other share assignments to employees or members of the company's administrative and supervisory bodies and to use as consideration in extraordinary transactions, also in the form of exchange of shareholdings, with other parties, including the possible use of bonds convertible into shares of the company or with warrants, stock dividends. The authorization will be valid for 12 months.

As of December 6, 2023, the company had 8,851,250 shares in issue and no treasury shares.