Avation PLC (LSE:AVAP) commences share repurchases on March 1, 2024, under the program mandated by the shareholders in the Annual General Meeting held on November 23, 2023. As per the mandate, the company is authorized to repurchase up to 21,264,937 shares, representing 30% of its issued and outstanding common stock. The shares will be repurchased at a minimum price of £0.75 per share and the maximum price which may be paid for an ordinary share shall be the higher of an amount equal to 105% of the average middle market quotations for an ordinary share as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased 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 program will expire at the end of the next Annual General Meeting of the company. As of October 26, 2023, the company had 70,883,124 in issue and 0 shares in treasury.