Georgia Capital PLC (LSE:CGEO) commences share repurchases on October 31, 2023, under the program mandated by shareholders in the Annual General Meeting held on May 17, 2023. As per the mandate, the company is authorized to repurchase up to 6,719,696 shares, representing 15.25% of its share capital. The minimum price which may be paid for an ordinary share shall be £0.01 and the maximum price which may be paid for an ordinary share shall be an amount equal to 105% of the average of the middle market quotations for an ordinary share taken from and calculated by reference to the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased, or the price of the last independent trade or the highest current independent bid for an Ordinary Share as derived from the London Stock Exchange Trading System at the time the purchase is carried out.

The repurchased shares can be held as treasury shares, sold for cash, cancelled or transferred pursuant to an employee share plan. The authorization will be valid till next Annual General Meeting in 2024 or June 17, 2024, unless varied, revoked or renewed. As of May 17, 2023, the company had 44,310,362 shares in issue including 260,921 treasury shares.