Vassilico Cement Works seeks shareholder approval for 12-month share buyback
Vassilico Cement Works will hold an extraordinary general meeting on October 29, 2026, to seek approval for a 12-month share buyback authorisation.
Vassiliko, Cyprus. Vassilico Cement Works has called an extraordinary general meeting for October 29, 2026, at which shareholders will be asked to approve a proposal allowing the company to buy back its own shares over the following 12 months.
Meeting and proposed authorisation
The extraordinary general meeting of Vassilico Cement Works Public Company Ltd will take place at 12.30pm at the company’s offices at its Vassiliko factory.
Shareholders will be asked to consider and adopt a special resolution authorising the board of directors to acquire shares in the company for 12 months from the date of the meeting’s decision.
Purchase and holding limits
Under the proposed resolution, the number of shares acquired must not exceed 10 per cent of the company’s issued share capital or 25 per cent of the average value of transactions in its shares on the Cyprus Stock Exchange (CSE) during the 30 days preceding each purchase, whichever amount is lower.
The company would be allowed to hold acquired shares for a maximum of two years.
The maximum purchase price would be no more than 5 per cent above the average market price of the company’s shares during the five trading sessions immediately preceding each purchase. No minimum purchase price would be imposed, the company said.
Funding and implementation
The purchases would be funded from realised and undistributed profits, according to the announcement.
The proposed resolution would also authorise the company secretary to take all necessary steps to implement the decisions approved by shareholders.
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