Inchcape plc (LSE:INCH) commences share repurchases on August 1, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 9, 2024. As per the mandate, the company is authorized to repurchase up to 41,300,713 shares, representing 10% of its issued share capital. The minimum price that may be paid per ordinary share is the nominal amount of that share and the maximum price that may be paid for an ordinary share is the highest of an amount equal to 5 per cent above the average market value of an ordinary share for the five business days immediately preceding the day on which that ordinary share is contracted to be purchased and the higher of the price of the last independent trade and the highest current independent bid for an ordinary share on the trading venues where the purchase is carried out at the relevant time. The repurchase program is valid till the Annual General Meeting to be held in 2025 or August 8, 2025, whichever is earlier.

On July 30, 2024, the company announces an share repurchase program. Under the program, the company will repurchase up to 41,300,713 shares for £150 million. The purpose of the program is to reduce the capital of the company. The shares repurchased will be cancelled. The repurchase program is valid till March 31, 2025.