Finsbury Growth & Income Trust PLC (LSE:FGT) commences share repurchases on January 17, 2023, under the program mandated by the shareholders in the Annual General Meeting held on January 17, 2023. As per the mandate, the company is authorized to repurchase up to 32,088,957 shares, representing 14.99% of its issued share capital. The minimum price which may be paid for each ordinary share is £0.25 pence and the maximum price which may be paid for each ordinary share is the higher of an amount equal to 105% of the average of the 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 purchased 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 as derived from the London Stock Exchange Trading System.

Any shares purchased under this authority may either be cancelled or held as treasury shares for future reissue, resale, or transfer. The authority shall expire at the conclusion of the Annual General Meeting of the company to be held in 2024 or, if earlier, on the expiry of 15 months from the date of the passing of this resolution, unless such authority is renewed prior to such time. As of December 5, 2022, the company had 214,069,095 ordinary shares in issue and 10,922,208 shares in treasury.