Third Point Offshore Investors Limited (LSE: TPOU) commences share repurchases on July 8, 2021, under the program mandated by the shareholders in the Annual General Meeting held on July 8, 2021. As per the mandate, the company is authorized to repurchase its own shares, representing not more than 14.99% of its issued share capital. The minimum price that shall be paid for a share is 50% of the net asset value. The maximum price that shall be paid for a share shall not be more than the higher of 105% of the average of the middle market quotations for a share taken from London Stock Exchange?s main market for the five business days before the purchase is made and the higher of the price of the last independent trade and the highest current independent bid at the time of purchase. The repurchased shares will be cancelled. The authority will expire at the conclusion of the next Annual General Meeting of the company or after 18 months, whichever is earlier, unless such authority is renewed, revoked or varied prior to such time.