d'Amico International Shipping S.A. (BIT:DIS) commences share repurchases on January 20, 2020, under the program mandated by the shareholders in the Annual General Meeting held on April 20, 2016. As per the mandate, the company is authorized to repurchase up to 42,851,356 ordinary shares, representing 10.18% of its issued capital for € 17.5 million. The shares will be repurchased within the price range not lower than 10% below the official price reported in trading session and not higher than 10% of the above the shares official price reported in the trading session on the day before the carrying out each individual transaction. The repurchases will be funded using the available reserves and/or distributable earnings. The shares repurchased will be kept in treasury and used in order to place the company in a position to offer them for distribution to the company and its subsidiaries directors, key managers, employees or contractors pursuant to implementation of stock option plan, to make them available as a means of payment, exchange, transfer, contribution, assignment or other action of disposal within the framework of any other strategic transactions linked to the Company and its subsidiaries’ operations and of any projects offering an effective investment opportunity in line with the strategic policy of the company. The share repurchase program will expire after 5 years. As of April 20, 2016, the company had 428,510,356 shares outstanding and holds 7,760,027 shares in treasury.