Demetra Holdings Plc has initiated and executed share buybacks following shareholder approval at its annual general meeting in June, with transactions carried out through the Cyprus Investment and Securities Corporation (CISCO).

The company announced on September 1, 2025, that its board of directors had decided to launch a buyback programme authorised by the annual general meeting held on June 24, 2025.

According to an announcement by the company released this week, the decision was also communicated to the Cyprus Stock Exchange (CSE) on June 25, 2025.

Demetra stated that it had entered into an agreement with CISCO to manage the programme for the repurchase of its own shares.

At the annual general meeting, 15 shareholders representing 77,886,472 shares, corresponding to 38.94 per cent of the issued share capital, were present in person or by proxy.

The agenda covered ordinary and one special business item, with no additional matters raised under the relevant article of the companies law, or the relevant provision of the corporate governance code.

The meeting reviewed the management and consolidated management reports, the annual corporate governance report, the remuneration policy, the audited financial statements for the year ended December 31, 2024, and the auditors’ report.

An advisory, non-binding resolution on the remuneration report was also approved.

Directors Nearchos Ioannou, Varnavas Irinarchos, Demetris Philippides and Cleanthis Chandriotis retired and were re-elected.

Non-executive directors Stavros Kattamis and Mark Klerides, who had been appointed by the board in August and October 2024 respectively, retired and were formally elected by the meeting.

On the recommendation of the remunerations committee, shareholders approved an amended remuneration policy effective from January 1, 2025, with new director remuneration outlined in the chief executive officer’s presentation.

Grant Thornton (Cyprus) Ltd were re-appointed as statutory auditors, with the board authorised to determine their fees.

Moreover, by special resolution, the board was authorised to conduct buybacks of the company’s shares within 12 months, subject to conditions including a cap of 10 per cent of issued capital or 25 per cent of the mean trading volume over 30 days, whichever is lower.

Shares may be acquired privately or through the market and held for up to two years.

The maximum price cannot exceed 5 per cent above the average of the last five trading sessions, with no restriction on the minimum price.

Following these resolutions, Demetra executed its first transactions.

On August 29, 2025, the company repurchased 5,000 shares at an average price of 1.687 cents through CISCO.

CISCO Brokerage Manager Stelios Paschalis confirmed the purchases in an announcement on September 1, 2025, noting they were conducted in line with the AGM authorisation and Article 57A of the Companies Law.

The programme continued on September 1, 2025, when Demetra acquired a further 5,398 shares at a price of 1.72 cents, again executed through CISCO.

Details of the purchases included multiple tranches, ranging from 89 to 3,000 shares, all completed on the same day.

Stelios Paschalis, Director of Brokerage Services at CISCO, confirmed the transactions in a separate announcement on September 2, 2025, emphasising that they were carried out under the terms of the AGM approval and in compliance with Cypriot company law.