OSRAM Licht AG (XTRA:OSR) commences share repurchases on January 10, 2019, under the program mandated by the shareholders in the Annual General Meeting held on February 14, 2017. As per the mandate, the company is authorized to repurchase its own shares, such that it does not exceed 10% of its issued share capital at any point. The shares will be repurchased at a price of not more than 10% and not less than 20% of the average market price of the company’s shares in the closing auction on the stock exchange over three exchange trading days, preceding the day on which the company repurchases the shares. The shares repurchased may be sold, transferred, redeemed and used to service acquisition obligations or acquisition rights arising from or in connection with convertible bonds or bonds issued by the company. The authority shall expire on February 13, 2022. On October 24, 2018, the company announces a share repurchase program. Under the program, the company will repurchase up to €400 million worth of its common shares. The repurchases will be made in the form of tranche and will commence on January 10, 2019.