Vassilico Cement Works has called an extraordinary general meeting for October 29, 2026, at which shareholders will be asked to approve a proposal allowing the company to buy back its own shares over the following 12 months.

The extraordinary general meeting of Vassilico Cement Works Public Company Ltd will take place at 12.30pm at the company’s offices at its Vassiliko factory.

Shareholders will be asked to consider and adopt a special resolution authorising the company’s board of directors to acquire shares in the company for a period of 12 months from the date of the meeting’s decision.

Under the proposed resolution, the number of shares acquired must not exceed 10 per cent of the company’s issued share capital or 25 per cent of the average value of transactions in the company’s shares on the Cyprus Stock Exchange (CSE) during the 30 days preceding each purchase, whichever amount is lower.

The resolution would also limit the period for holding acquired shares to a maximum of two years.

The proposed resolution sets a limit on the purchase price the company can pay when buying its shares.

The maximum purchase price would be no more than 5 per cent above the average market price of the company’s shares during the five trading sessions immediately preceding each purchase.

No minimum purchase price would be imposed under the proposed resolution, the company said.

The company would fund the purchases from realised and undistributed profits, the announcement added.

The proposed resolution would also authorise the company secretary to take all necessary steps to implement the decisions approved by shareholders.