Albion Enterprise VCT PLC (LSE:AAEV) commences share repurchases on September 30, 2021, under the program mandated by the shareholders in the Annual General Meeting held on August 11, 2021. As per the mandate, the company is authorized to repurchase up to 12,833,757 shares, representing 14.99% of its issued share capital. The minimum price which may be paid is £0.01 per ordinary share.

The maximum price which may be paid for each ordinary share is an amount equal to the higher of, either 105% of the average of the middle market quotations as derived from the London Stock Exchange Daily Official List, for a share over the five business days immediately preceding the day on which the ordinary share is purchased, or the amount stipulated by Article 5(1) of the Buy-back and Stabilisation Regulation 2003. The shares will be repurchased on the market. The repurchased shares will be held as treasury shares which may then be cancelled or sold for cash.

Unless previously revoked or varied, the share repurchase program shall expire at the earliest of the conclusion of the next Annual General Meeting, or after 15 months from this repurchase program.