Sanok Rubber Company Spólka Akcyjna commences an Equity Buyback Plan for 806,457 shares, representing 3% for PLN 15 million, under the authorization approved on June 28, 2022.

Sanok Rubber Company Spólka Akcyjna (WSE:SNK) commences share repurchases on June 28, 2022, under the program mandated by the shareholders in the Annual General Meeting held on June 28, 2022. As per the mandate, the company is authorized to repurchase to repurchase 806,457 shares, representing 3% of its issued share capital for PLN 15 million. The purchase price of the shares may not be lower than PLN 10 per share and may not be higher than PLN 18 per share.

The shares purchased by the company under the Share Buyback Program for the Incentive Program will be intended to be offered by the company to eligible persons under the company's incentive program, and in the event of failure to implement the Incentive Scheme for any reasons, will be intended for redemption. The program will be funded from the capital reserve of the company. The program is valid until June 28, 2024, and may end before, if all the funds are exhausted.