Novabase SGPS SA (DB:NVQ) commences share repurchases on January 12, 2017 under the program mandated by the Annual General Meeting held on May 3, 2016. As per the mandate, the company is authorized to repurchase own shares in up to 10% of the share capital, deducting any disposals made. The price of acquisition shall fall within a minimum of 25% below the weighted average value of the weighted daily average trading prices of the shares on Euronext Lisbon during the 10 trading sessions immediately preceding the date of acquisition or the creation of the right to acquire shares, and a maximum of 25% above that value. The shares shall be repurchased in any form, on regulated market or in over-the-counter transactions as determined by the management body, in compliance with the principle of equal treatment of shareholders as established by law, or any other acquisition for the purpose or by virtue of complying with any obligation under law or contract, and, further on, any acquisitions to be made within any possible share buyback program that the management decides to implement. The program is valid for a period of 18 months.