The shareholders of Alliances Developpement Immobilier SA (CBSE:ADI) authorized a share repurchase program at its Annual General Meeting on November 1, 2010. Under the program, the company will repurchase up to 605,000 shares, representing 5% of the share capital. Shares will be repurchased at a maximum price of MAD 1,000 per share. The authority is valid for a period of 18 months from November 9, 2010. Art Bourse acted as the broker of the company in the buyback transaction. Alliances Developpement Immobilier SA's share repurchase program expired on May 1, 2012.