Aberforth Smaller Companies Trust Plc (LSE:ASL) commences share repurchases on August 4, 2020, under the program mandated by the shareholders in the Annual General Meeting held on March 3, 2020. As per the mandate, the company is authorized to repurchase up to 13,421,006 shares, representing 14.99% of its issued share capital. The minimum price which may be paid for a share shall be 1 pence being the nominal value of a share and the maximum price which may be paid for a share shall be the higher of, either 5% above the average of the middle market quotations for the shares for the five business days immediately preceding the date of purchase, or 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 authority hereby conferred shall expire on July 31, 2021, or if earlier, at the conclusion of the Annual General Meeting of the company to be in 2021.