Capital Limited (LSE:CAPD) commences share repurchases on January 5, 2022, under the program mandated by the shareholders in the Annual General Meeting held on April 28, 2021. As per the mandate, the company is authorized to repurchase up to 19,005,484 shares, representing 10% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is $0.0001 and the maximum price which may be paid for each ordinary share is the higher an amount equal to 105% of the average of the middle market quotations for an ordinary share for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased 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 on the trading venue. The authority shall expire at the earlier of the next Annual General Meeting of the company or 15 months. As of April 28, 2021, the company had 190,054,838 ordinary shares in issue and as of March 31, 2021, the company had no shares in treasury.

On December 31, 2021, the company entered into a buyback agreement with Stifel Nicolaus Europe Limited ("Stifel") to repurchase 2,000,000 ordinary shares, for $2.5 million. The purpose of the program is to reduce the share capital of Capital or meet obligations arising from share option program. All ordinary shares repurchased will be held in treasury. This agreement will end no later than the earlier of the maximum program size limits being met and the company's next annual general meeting.