CT UK High Income Trust Plc (LSE:CHI) commences share repurchases on September 16, 2022, under the program mandated by the shareholders in its Annual General Meeting held on July 20, 2022. As per the mandate, the company is authorized to repurchase up to 14.99% of each of ordinary Shares and B shares. The minimum price payable for an ordinary Shares or B Share will be £0.1 pence.

The maximum price which may be paid for an Ordinary Shares or B Share shall not be more than 5% above the average of the middle market quotations for an ordinary share as derived from the London Stock Exchange Daily Official List for the 5 business days before the purchase is made and the higher of the last independent trade and the highest current independent bid on the London Stock Exchange. Shares which are bought back by the company may be cancelled or may be held in treasury. The share repurchase program will expire at the earliest of the conclusion of the next Annual General Meeting of the company in 2023 or on September 30, 2023, unless previously renewed, varied or revoked by the company in a General Meeting.

As on March 31, 2022, the company had 102,067,144 ordinary shares and 32,076,703 Class B shares in issue and had 16,894,491 ordinary shares and 1,367,953 Class B shares in treasury.