Albion Venture Capital Trust PLC (LSE:AAVC) commences share repurchases on August 24, 2018 under the program mandated by the shareholders in the Annual General Meeting held on August 13, 2018. As per the mandate, the company is authorized to repurchase up to 14,426,856 shares, representing 14.99% of its issued share capital. 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 plan will be valid up to the conclusion of the next Annual General Meeting of the company or, if earlier, close of business on the date falling 15 months after the date on which this resolution is passed.