Fidelity European Trust PLC commences an Equity Buyback Plan for 61,611,305 shares representing 14.99% of its issued capital, under the authorization approved on May 10, 2022.

Fidelity European Trust PLC (LSE:FEV) commences share repurchases on August 22, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 10, 2022. Under the program, the Fund will repurchase up to 61,611,305 shares, representing 14.99% of the ordinary shares in issue. The minimum price which may be paid for a share is 25p.

The maximum price which may be paid for an ordinary share is an amount equal to 5% above the average market value for the ordinary shares for the five business days prior to the day the purchase is made and an amount equal to the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out at the relevant time. The program shall expire at the conclusion of the next Annual General Meeting in 2023. As of March 17, 2022, the company has 411,016,049 shares in issue and 5,431,861 shares held in treasury.