Zenitel NV (ENXTBR:ZENT) commences share repurchases on September 12, 2016 under the program mandated by the Extraordinary General Meeting held on April 28, 2014. As per the mandate, the company will repurchase by sale or exchange its own shares, VVPR-strips, bonus shares or certificates which relate thereto or to divest those, without the requirement of a prior decision of the General Meeting, either directly or through a person which acts in its own name but on behalf of the company, or through a direct subsidiary in the meaning of Article 627 of the Company Code, if the acquisition or divestment is necessary to avoid a threatening serious disadvantage for the company. The shares will be repurchased for a consideration which cannot be more than 20% lower and cannot be more than 20% higher than the average stock exchange rate of the relevant shares on Euronext during the five trading days preceding the acquisition or exchange or divestment. The repurchase plan will be valid for a period of three years until May 19, 2017 and can be renewed.