Aberdeen Frontier Markets Investment Company Limited (AIM:AFMC) commences share repurchases on September 17, 2018, under the program mandated by the shareholders in the General Meeting held on June 25, 2018. As per the mandate, the company is authorized to repurchase up to 297,942,188 shares, subject to a maximum of 10% of the issued share capital. The minimum price which may be paid for each ordinary share is £0.01 and the maximum price which may be paid for any such ordinary share is the higher of 5% above the average of the middle market quotations for the ordinary shares in the company as derived from the London Stock Exchange Daily Official List for the 5 business days immediately preceding the date on which such ordinary shares are contracted to be purchased and the higher of the price of the last independent trade and the highest current independent bid on the London Stock Exchange Daily Official List at the time the purchase is carried out. The authority will expire on the earliest of company’s next Annual General Meeting in 2019, or, if earlier, at the close of business on 28 June 2019. As on May 29, 2018, the company had 2,979,421,884 shares in issue and 0 shares in treasury.