Chenavari Toro Income Fund Limited (LSE:TORO) announces a share repurchase program. Under the program, the company will repurchase shares representing 5% of its issued share capital on the record date. The offer will be conducted on a pro rata basis, at a purchase price equal to 85% of the NAV per share as at December 31, 2019. The offer will be funded from the company's existing cash resources. The offer is subject to approval from the shareholders in the extraordinary general meeting. The repurchased shares will be held in treasury and may be re-issued. The offer is valid till February 11, 2020. As of January 10, 2020, the company had 313,642,624 ordinary shares in issue excluding treasury shares. On February 12, 2020, the Shareholders approved the buyback at the Extraordinary General Meeting. William Simmonds from J.P. Morgan Cazenove acted as a broker to the company.