Aberdeen New India Investment Trust PLC (LSE:ANII) commences share repurchases on September 30, 2022, under the program mandated by the shareholders in the Annual General Meeting held on September 28, 2022. As per the mandate, the company is authorized to repurchase up to 8,630,807 shares, representing 14.99% of its issued share capital. The minimum price that will be paid for an ordinary share is 25 pence per share.

The maximum price that will be paid for an ordinary share will be not more than the higher of 5% above the average market values of the shares taken from the Daily Official List of the London Stock Exchange for the 5 business days before the purchase is made and the higher of the price of the last independent trade and the highest current independent bid on the trading venue where the purchase is carried out. The repurchases shares will be cancelled or held in treasury. Unless renewed, the authority will expire at the conclusion of the Annual General Meeting of the Company in 2023, or on September 30, 2023, whichever is earlier.

As of June 30, 2022, the company had 57,577,097 shares in issue and had 1,493,043 shares in treasury.