Aberforth Smaller Companies Trust Plc commences an Equity Buyback Plan for 12,793,156 shares, representing 14.99% of its issued share capital, under the authorization approved on March 2, 2023.

Aberforth Smaller Companies Trust Plc (LSE:ASL) commences share repurchases on March 2, 2023, under the program mandated by the shareholders in the Annual General Meeting held on March 2, 2023. As per the mandate, the company is authorized to repurchase up to 12,793,156 shares, representing 14.99% of its issued share capital. The maximum price which may be paid for an ordinary share is an amount equal to 5% of the average of the middle market quotations for the ordinary shares taken from the London Stock Exchange Daily Official List for five business days immediately preceding the day on which that Share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out.

The minimum price which may be paid for an ordinary share is 1p. The repurchased shares will be cancelled. Unless previously varied, revoked or renewed, the program will be valid till the next Annual General Meeting in 2024, or July 31, 2024, whichever is earlier.

As at January 27, 2023, the company had 85,344,605 issued and outstanding shares.