Demetra Holdings Plc bought another 4,130 of its own shares this week, spending €6,091.75 as it continued the share buyback programme launched last month. 

The shares were acquired at €1.475 each through the Cyprus Investment and Securities Corporation Limited (CISCO), according to the company’s latest filing. 

The purchase marks a sharp increase from Friday’s transaction, when Demetra bought just 34 shares for €49.81. However, the volumes recorded throughout the programme have varied considerably from one trading session to another. 

A review of the company’s published disclosures shows that Demetra has now repurchased 37,688 shares across 10 trading sessions since buying began on July 15. 

The combined expenditure stands at approximately €56,643, excluding any transaction fees, at a weighted average price of about €1.503 per share. Nevertheless, the shares acquired so far represent less than 0.02 per cent of Demetra’s 200 million issued shares. 

The buyback programme was formally launched on July 15 following authorisation granted by shareholders at the company’s annual general meeting on June 30. It may continue until June 29, 2027, with CISCO appointed to execute purchases on Demetra’s behalf. 

Under the terms included in the AGM notice, the company’s holdings of its own shares cannot exceed 10 per cent of its issued capital. Purchases are also subject to a threshold linked to 25 per cent of average trading during the preceding 30 days. 

In addition, the maximum purchase price cannot be more than 5 per cent above the average share price during the five previous trading sessions, while no minimum price was set. 

Demetra shares were trading at €1.47 on Tuesday, down 0.34 per cent, giving the company a market capitalisation of approximately €294 million, according to Cyprus Stock Exchange, CSE data. 

For comparison, Demetra’s latest reported net asset value stood at €2.5929 per share on June 30. The current market price is therefore about 43 per cent below that figure, although the company has not identified the discount as the reason for the buyback. 

At the same June meeting, shareholders also approved a €20 million final dividend, equivalent to €0.10 per share, based on the company’s 2025 financial results.