Elinoil Hellenic Petroleum Company S.A. (ATSE:ELIN) commences share repurchases on July 25, 2016 under the program mandated by the shareholders in the Annual General Meeting held on June 25, 2015. As per the mandate, the company is authorized to repurchase up to 1,191,406 shares, representing 5% of its issued share capital. The shares will be repurchased within the price range of €0.50 per share to €2 per share. The repurchases will be in accordance with the article 16 of the Codified Law 2190/1920. The share repurchase program is valid for 24 months. As of June 25, 2015, the company 23,828,130 shares in issue.