Baillie Gifford US Growth Trust PLC (LSE:USA) commences share repurchases on November 8, 2023, under the program mandated by the shareholders in the Annual General Meeting held on September 18, 2023. As per the mandate, the company is authorized to repurchase up to 45,742,539 shares, representing 14.99% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is the nominal value of an ordinary share and the maximum price which may be paid for each ordinary share is the higher an amount equal to 5% above the average of the middle market quotations for an ordinary share as derived from the London Stock Exchange Daily Official List of the UK Listing Authority for the five business days immediately preceding the date of purchase and an amount equal to the higher of the price of the last independent trade of an ordinary share and the current highest independent bid for an ordinary share as derived from the London Stock Exchange Trading System.

The shares purchased will be cancelled. The authority shall expire at the conclusion of the next Annual General Meeting in 2024. As of August 4, 2023, the company had 305,153,700 ordinary shares in outstanding and as of May 31, 2023, the company had 2,206,300 shares in treasury.