Brunello Cucinelli S.p.A. (BIT:BC) commences share repurchases on January 10, 2023, under the program mandated by the shareholders in the Annual General Meeting held on April 27, 2022. As per the mandate, the company is authorized to repurchase its own shares, such that the share in treasury does not exceed 275,000 shares, representing 0.4% of the share capital. The maximum repurchase price of share is not higher than the higher of the price of the last independent transaction and the price of the current highest independent bid on the trading venue where the purchase is made, subject to that the aforementioned fee cannot in any case be lower in the minimum and higher in the maximum of 10% of the reference price that the company's share recorded in the session of the day preceding each single transaction. The repurchased shares will be used for the compensation plan based on financial instruments. The repurchase authorization is valid for 18 months. As of March 10, 2022, the company had 68,000,000 issued and outstanding shares.

On January 9, 2023, the company initiated a share repurchase program. Under the program, the company will repurchase up to 47,250 shares, representing 0.1% of the company's share capital. The repurchased shares will be used to service the "2022-2024 Stock Grant Plan. The repurchase program will commence on January 10, 2023 and likely to end on January 31, 2023, but, in any case, no later than October 27, 2023.