JPMorgan Indian Investment Trust plc (LSE:JII) commences share repurchases on February 14, 2024, under the program mandated by the shareholders in the Annual General Meeting held on February 13, 2024. As per the mandate, the company is authorized to repurchase up to 10,879,475 ordinary shares, representing 14.84% of its issued share capital of each relevant share class. The minimum price which may be paid for an ordinary share and subscription share shall be 25 pence and 1 pence, respectively.

The maximum price which may be paid for a share shall be an amount equal to, 105% of the average of the middle market quotations for the share taken from and calculated by reference to the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the share is purchased, or the price of the last independent trade, or the highest current independent bid. The program will expire on August 12, 2025, unless the authority is renewed at the company?s next Annual General Meeting or at any other general meeting prior to such time. As of September 30, 2023, the company had 99,473,851 shares in issue, including 26,201,121 shares held in treasury.