Abrdn China Investment Company Limited commences an Equity Buyback Plan for 6,890,177 shares, representing 14.99% of its issued share capital, under the authorization approved on April 12, 2022.

abrdn China Investment Company Limited (LSE:ACIC) commences share repurchases on April 20, 2022, under the program mandated by the shareholders in the Annual General Meeting held on April 12, 2022. As per the mandate, the company is authorized to repurchase up to 6,890,177 shares, representing 14.99% of its issued share capital. The maximum price which may be paid for each ordinary share is the higher of an amount equal to 105% of the average of closing market value of the shares for the five business days immediately preceding the date of the relevant purchase is made and an amount equal to the higher of the price of the last independent trade of an ordinary share and the current highest independent bid for an ordinary share on the trading venues where the purchase is carried out.

The minimum price which may be paid for each ordinary share is £0.01. The program will be valid till the next Annual General Meeting in 2023, or 18 months from the passing of this resolution, whichever is earlier. As of October 30, 2021, the company had 45,965,159 shares in issue and 8,653,348 ordinary shares held in treasury.