Countryside Properties PLC (LSE:CSP) commences share repurchases on July 26, 2021, under the program mandated by the shareholders in the Annual General Meeting held on February 5, 2021. As per the mandate, the company is authorized to repurchase up to 52,462,687 shares, representing 10% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is £0.01 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 as derived from the London Stock Exchange Daily Official List of the UK Listing Authority 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 as derived by EU Commission-adopted Regulatory Technical Standards. The shares purchased may either held as treasury shares or resell them for cash, cancel them, immediately or at a point in the future, or use them for the purposes of its employee share plans. The authority shall expire at the conclusion of the next Annual General Meeting of the company or March 31, 2022, whichever is earlier. As of December 23, 2020, the company had 524,626,870 ordinary shares in issue. On July 7, 2021, the company announced a share repurchase program. Under the program, the company will repurchase up to £450 million worth of shares. On July 26, 2021, the company entered into a non-discretionary and irrevocable arrangement with Barclays Capital Securities Limited to start the initial tranche of the buyback program. Under the subplan, the company will repurchase 23,000,000 shares for £52 million. The purpose of the program is to reduce the capital of the company. The program will end no later November 5, 2021.