Impexmetal S.A. (WSE:IPX) commences share repurchases on September 23, 2016 under the program mandated by the shareholders in the Annual General Meeting held on June 15, 2016. As per the mandate, the company is authorized to repurchase its own shares. On September 22, 2016, the Management Board decided to commence the share repurchase program. repurchase up to a maximum of 32,790,000 shares taking into account the nominal value and the number of remaining shares that were not sold by the company, representing a total nominal value not exceeding 20% of the share capital. The shares will be repurchased at a price not less than PLN 2 per share and not more than PLN 4 per share. Repurchase own shares may take place independently through brokerage orders, block trades or announcement of tender offers, as well as through brokerage houses in trading on the Warsaw Stock Exchange. Repurchases will be funded from the reserve capital set for the purpose of repurchasing shares. The company will be able to acquire no more than 25% of the relevant average daily volume of turnover in shares at Warsaw Stock Exchange within 20 trading days preceding the date of purchase. Acting in the best interest of the company, after consulting the Supervisory Board of the company, the Board of Directors may terminate the share repurchase program before its duration, or the exhaustion of the funds allocated for the purchase or cancel the repurchase program in whole or in part. The repurchases will commence on September 23, 2016 and will be valid for 5 years, but not longer than until the exhaustion of resources assigned for the repurchase of own shares.