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CTT repurchases 84,801 shares and now holds 1.49% of its capital

CTT repurchases 84,801 shares and now holds 1.49% of its capital

CTT announced today the acquisition of another 84,801 shares, leaving it with 1.49% of its share capital, as part of the securities buyback program, according to a statement published by the Portuguese Securities Market Commission (CMVM).

Thus, CTT informs that “in the period between August 18 and 24, 2023 (inclusive), BPI “acquired 84,801 shares representing CTT’s share capital, under the company’s share buyback program”, and “as the financial intermediary in charge of its execution, on the Euronext Lisbon regulated market”.

According to the same note, as of today, “as a result of the acquisition operations indicated herein, the company held an accumulated total of 2,139,950 own shares, representing 1.49% of its share capital”.

In June, CTT announced the launch of a share buyback program for a total amount of 20 million euros, with the aim of acquiring 7.65 million securities, followed by a reduction in the company’s share capital, according to a statement.

In the note published at the time with the CMVM, CTT indicated that the operation was decided at a meeting of the Board of Directors and consists of “implementing a share buyback program for a total amount of 20 million euros, equivalent to 4.1% of the market capitalization” of the post office.

According to the company, the operation, “to be implemented over the next 12 months”, aims to “repurchase a maximum of up to 7.65 million shares, representing a maximum nominal value of 3,825,000 euros, which corresponds to 5.3% of the share capital”, and to “reduce the share capital by up to the same amount, by cancelling the own shares acquired”.

CTT shares closed today down 0.30% to 3.30 euros on the Lisbon stock exchange.

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