The Scottish Investment Trust PLC (LSE:SCIN) commences share repurchases on February 2, 2021, under the program mandated by the shareholders in the Annual General Meeting held on February 2, 2021. As per the mandate, the company is authorized to repurchase up to 10,845,339 shares, representing 14.99% of its issued share capital. The minimum price which may be paid for a share shall be 25p per ordinary share and the maximum price which may be paid for a share shall be the higher of 105% of the average of the middle market quotations as derived from the daily official List of the London Stock Exchange for the five business days immediately preceding the date of purchase and the higher of the price of the last independent trade and the highest current independent bid on the trading venue where the purchase is carried out. Unless previously varied, revoked or renewed, the share repurchase program shall expire on May 2, 2022, save that the company may, prior to such expiry, enter into a contract to purchase shares under such authority which will or might be executed wholly or partly after the expiration of such authority and may make a purchase of shares pursuant to any such contract. As of December 10, 2020, the company had 72,350,500 issued share capital.