Eurocell plc (LSE:ECEL) commences share repurchases on January 23, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 11, 2023. As per the mandate, the company is authorized to repurchase up to 11,209,518 shares, representing 10% of its issued share capital. The minimum price which may be paid for each ordinary share is £0.01 pence and the maximum price which may be paid for each ordinary share is the higher of 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, for the five business days immediately preceding the day on which the ordinary share is 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 from the London Stock Exchange Trading System.

Any shares purchased under this authority may either be cancelled or held as treasury shares. The authority shall expire expire at the conclusion of the next annual general meeting of the company or, if earlier, at the close of business on the date falling 15 months after the passing of this resolution. As on March 31, 2023, the company had 112,095,184 shares in issue and had no shares in treasury.