Vassilico Cement Works to seek shareholder approval for share buyback program
Vassilico Cement Works Public Company Ltd has scheduled an extraordinary general meeting for October 29, 2026, to seek shareholder approval for a share buyback program. The proposed resolution would authorize the company’s board to purchase up to 10% of its issued share capital or 25% of the average transaction value on the Cyprus Stock Exchange, whichever is lower, within 12 months of the meeting.
The buyback plan limits the holding period of acquired shares to a maximum of two years. Additionally, the purchase price cannot exceed 5% above the average market price over the five trading sessions preceding each acquisition, with no minimum price set. Funding for the repurchases will come from the company’s realised and undistributed profits.
The company secretary will be empowered to carry out all necessary actions to implement the shareholders' decisions. The meeting will take place at 12:30 pm at the company’s Vassiliko factory offices.
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