Fidelity Japan Trust PLC commences an Equity Buyback Plan for 19,468,546 shares, representing 14.99% of its issued share capital, under the authorization approved on May 17, 2022.

Fidelity Japan Trust PLC (LSE:FJV) commences share repurchases on August 16, 2022, under the program mandated by the shareholders in the Annual General Meeting held on May 17, 2022. As per the mandate, the company is authorized to repurchase up to 19,468,546 shares, representing 14.99% of its issued share capital. The maximum price which may be paid for each ordinary share must not be more than the higher of 105% above the average of the middle market quotations of the ordinary shares taken from the London Stock Exchange Official List for the five business days immediately preceding the day on which the share is purchased and the amount stipulated by Regulatory Technical Standards adopted by the European Commission.

The minimum price which may be paid for each ordinary share is £0.25 per share. The repurchased shares will be cancelled or held in treasury. The repurchase program will expire at the conclusion of the next AGM of the Company unless such authority is renewed prior to such time.

As at December 31, 2021, the company had 129,876,894 shares in issue and 6,284,801 shares in treasury.