Ackerman S.A. (WSE:ACK) commences share repurchases on December 14, 2020, under the program mandated by the shareholders in the Extraordinary General Meeting held on November 18, 2020. As per the mandate, the company is authorized to repurchase up to 100,000 shares, representing 10% of its issued share capital for PLN 2 million. The shares cannot be repurchased at a price lower than PLN 1 per share and higher than PLN 100 per share. The repurchased shares are intended in particular for resale, direct or indirect, to operate the managerial options program, when it is enacted, or to be replaced, or otherwise ordered by the Management Board of the company, taking into account the needs of the company business. The program will be funded out of the company's own funds. The program is valid for 36 months no longer however, than until the funds allocated to their purchase are exhausted. As of November 18, 2020, the company had 1,000,000 shares in issue.