Vassilico Cement Works proposes share buyback using Cyprus Stock Exchange metrics
What happened
Vassilico Cement Works has called an extraordinary general meeting for October 29, 2026, to seek shareholder approval for a share buyback over 12 months. The proposal sets limits based on the Cyprus Stock Exchange, requiring the number of shares acquired not to exceed 10% of issued capital or 25% of the average transaction value in the 30 days prior to purchase, whichever is lower. The maximum purchase price is capped at 5% above the average market price during the five trading sessions immediately preceding each acquisition.
From cyprus-mail.com
Why it matters
The company plans to fund the share purchases using realized and undistributed profits. The limits for the buyback are directly tied to the company's capital structure and trading activity as tracked by the Cyprus Stock Exchange.
Vassilico Cement Works Public Company Ltd has previously used the Cyprus Stock Exchange registry for dividend payments.
From cyprus-mail.com
Who's involved
- Cyprus Stock ExchangeProvides the market data and venue for company share transactions
- Cyprus Securities and Exchange CommissionRegulates the operations of the Cyprus Stock Exchange
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The entities involved
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Cyprus Stock Exchange
Stock exchange located in Nicosia, Cyprus