Herald Investment Trust PLC (LSE:HRI) commences share repurchases on April 18, 2023, under the program mandated by the shareholders in the Annual General Meeting held on April 18, 2023. As per the mandate, the company is authorized to repurchase up to 9,074,244 shares, representing 14.99% of its issued share capital on the date on which the resolution is passed. The minimum price per ordinary share will be £0.25.

The maximum price which may be paid for any ordinary share shall be equal to the higher of, either the amount 5% above the average of the closing price of the company's ordinary shares as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such share is contracted to be purchased, or the higher of the last independent trade and the highest current independent trade on the London Stock Exchange. The authority is valid till unless previously varied, revoked or renewed, the authority hereby conferred shall expire on the earlier of the date falling 15 months after the passing of this resolution and the conclusion of the annual general meeting of the Company to be held in 2024. As of April 18, 2023, the company had 60,535,320 ordianry shares in issue.