Chelverton Growth Trust PLC commences share repurchases on December 15, 2016 under the program mandated by the shareholders in the Annual General Meeting held on December 15, 2016. As per the mandate the company is authorized to repurchase up to 955,925 shares, representing 14.99% of its issued ordinary share capital. The minimum price which may be paid for each ordinary share is £0.01 and the maximum price which may be paid for each ordinary share is, in respect of a share contracted to be purchased any day, an amount equal to 105% of the average of the middle market quotations for ordinary shares taken from London Stock Exchange Daily Official List for the 5 business days immediately preceding the day on which the contract of purchase is made. The program will expire at the conclusion of the next Annual General Meeting of the company held after the date on which this resolution is passed, if earlier, fifteen months after that date. On September 4, 2017, the company initiated a Tender Offer. Under the offer, the company will repurchase up to 15% of its issued share capital. The tender price per ordinary share will be 92.5% of the net asset value per ordinary share at the close of business on September 18, 2017. The record date to participate in the offer and the expiry date of the tender offer is September 18, 2017. On September 18, 2017, the company concluded the tender offer. Under the offer, the company has repurchased 749,765 shares, at a price of £0.82 per share for a total of £0.62 million. WH Ireland Limited acted as the broker to the company.