PATRIMOINE ET COMMERCE launches its share buyback program

PATRIMOINE ET COMMERCE has formalized the launch of a share buyback program, authorized by the general meeting of shareholders on June 13, 2024. The program aims to buy back shares for cancellation, thereby reducing the company's share capital. This initiative is governed by the articles of the general regulations of the Financial Markets Authority. The authorization extends over 18 months, until December 13, 2025, with a maximum allocated amount of €45.3 million.

As of November 13, 2024, PATRIMOINE ET COMMERCE held 58,759 treasury shares, representing 0.37% of its capital. The program includes a mandate given to Kepler Chevreux to repurchase up to 60,000 shares. The purchase price is capped at 30 euros per share. This repurchase will help stimulate the secondary market and support the liquidity of the stock, in accordance with the objectives set by the general meeting.