The Cyprus Cement Public Company Ltd has completed a share buyback transaction this week, aiming to strengthen its market position by purchasing its own shares.
- The Cyprus Cement Public Company Ltd has completed a share buyback transaction this week, aiming to strengthen its market position by purchasing its own shares.
This move aligns with a prior decision made by shareholders and adheres to applicable corporate legislation. The company ensured that the transaction complied with relevant regulations set forth by the Cyprus Stock Exchange and the Cyprus Securities and Exchange Commission.
Share buyback: Shareholder Approval Fuels Buyback
The buyback was authorised at an extraordinary general meeting held on June 26, 2025. During this meeting, shareholders approved a resolution allowing the company to proceed with the acquisition of its own shares, reflecting their confidence in the company’s future.
Transaction Details and Execution
The share buyback occurred during a board meeting on June 5, 2026, where it was executed through ProChoice Chrimatistiriaki Ltd, the designated purchase agent for the company. Cyprus Cement acquired a total of 1,488 shares at a price of €1.305 each, culminating in a total transaction value of €1,941.84.
Regulatory Compliance and Strategic Intent
Cyprus Cement’s adherence to the Companies Law Cap 113 Article 57A highlights its commitment to regulatory compliance while pursuing strategic initiatives. This buyback is seen as a proactive measure to enhance shareholder value and demonstrate the company’s financial health.
