Fidelity Investment Trust - Fidelity European Values plc (LSE:FEV) commences share repurchases on June 28, 2016, under the program mandated by the shareholders in the Annual General Meeting held on May 12, 2016. Under the program, the Fund will repurchase up to 62,425,541 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 a share is an amount equal to 105% of the average of the middle market quotations for a share taken from the London Stock Exchange Official List for the five business days immediately preceding the day on which the share is purchased. The program shall expire at the conclusion of the next Annual General Meeting in 2015. As of March 11, 2016, the company has 416,447,910 shares in issue and no shares in treasury. On June 28, 2017, the company announced that the closed period will commence on June 28, 2017 and will end on July 27, 2017, during which the company is not prohibited from dealing in its own securities.