Baronsmead Venture Trust Plc (LSE : BVT) commences share repurchases on February 13, 2023, under the program mandated by the shareholders in the Annual General Meeting held on February 1, 2023. As per the mandate, the company is authorized to repurchase up to 41,425,167 shares, representing 14.99% of its issued share capital. The minimum price which may be paid for an ordinary share will be £0.1 per share.

The maximum price which may be paid for an ordinary share will not be more than the higher of 105% of the average of the middle market quotations for the ordinary shares taken from the London Stock Exchange daily official list for the five business days immediately before the day on which purchase is made and the higher of the price of the last independent trade and the highest current independent bid for the ordinary shares. The repurchases shares will be cancelled or held in treasury for future re-sale. The authority shall expire at the conclusion of the Annual General Meeting of the company in 2023, or after 15 months, whichever is earlier unless such authority is renewed, revoked, or varied prior to such time.

As of December 20, 2022, the company had 342,045,641 shares in issue, of which 27,234,483 shares were held in treasury.