Northern 2 VCT PLC (LSE : NTV) commences share repurchases on August 18, 2022, under the program mandated by the shareholders in the Annual General Meeting held on August 10, 2022. As per the mandate, the company is authorized to repurchase up to 18,797,831 shares, representing 10% of its issued share capital. The minimum price which may be paid for an ordinary share will be 5 pence.

The maximum price per share of not more than 105% of the average of the middle market quotations for the ordinary shares for the five business days immediately before the day on which purchase is made and the higher of the price of the last independent trade and the highest current independent bid for the ordinary shares. The repurchased shares will be held as treasury shares. The authority will be effective until the conclusion of the next annual general meeting of the company in August 2023 or, October 31, 2023, whichever is earlier unless such authority is renewed, revoked, or varied prior to such time.

As of July 8, 2022, the company had 187,978,312 shares in issue.