Alpha Group International plc (AIM:ALPH) commences share repurchases on January 30, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 17, 2023. As per the mandate, the company is authorized to repurchase up to 2,166,091 shares, representing 5% of its issued share capital. The minimum price which may be paid for an ordinary share shall be £0.002 per share and the maximum price which may be paid for an ordinary share shall be an amount equal to 105% of the average of the middle market quotations for an ordinary share taken from and calculated by reference to the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased, or the price of the last independent trade or the highest current independent bid. The repurchased shares either be sold for cash, used to meet the Company?s obligations under employee share schemes, or cancelled. The authority is valid foe 15 months after the date of the passing of resolution or shall expire at the company?s next Annual General Meeting or at any other general meeting prior to such time. As of April 18, 2023, the company had 43,321,813 issued share capital.

On January 29, 2024, the company announced a share repurchase program. Under the program, the company will repurchase up to £20 million worth of shares. The repurchases will be made from company's cash reserves. The repurchase program is effective from today and will be valid till the date of the Company's next Annual General Meeting, or earlier, if the maximum aggregate consideration of £20 million has been reached.