**CySEC Grants Takeover Exemption for Cyprus Cement Share Buyback**
The Cyprus Securities and Exchange Commission (CySEC) has officially granted an exemption from mandatory takeover offer requirements for shareholders of the Cyprus Cement Public Company Ltd. This decision, announced on Friday, is linked to the company's planned share buyback programme, which aims to enhance shareholder value.
The exemption was approved during a CySEC meeting held on July 13, 2026, following a request from George S. Galatariotis & Sons Ltd, along with individuals acting in concert with the company. This ruling allows Cyprus Cement to proceed with its share repurchase initiative without the obligation to make a public takeover offer to its shareholders.
According to CySEC, the exemption was granted under Article 15(1)(ib) of the Public Takeover Bids Law of 2007, as amended. This particular article provides a framework for exemptions in situations where a company’s actions could lead to an increase in voting rights for specific shareholders. In this case, the share buyback programme could potentially increase the voting rights held by George S. Galatariotis & Sons Ltd and its associated parties.
The share buyback programme is set to run until June 17, 2027, during which Cyprus Cement plans to acquire up to 1 million of its own shares. This initiative is part of the company's strategy to optimize its capital structure and return value to its shareholders.
The decision by CySEC reflects its ongoing commitment to regulate and oversee the securities market in Cyprus, ensuring that such corporate actions comply with established laws while also considering the interests of shareholders and the market as a whole.
As Cyprus Cement moves forward with its share buyback plan, the implications for shareholders and the broader market will be closely monitored, particularly in terms of how this decision impacts the company's stock performance and shareholder engagement in the coming years.