J. Smart & Co. (Contractors) PLC (LSE:SMJ) commences share repurchases on January 22, 2024, under the program mandated by the shareholders in the Annual General Meeting held on January 18, 2024. As per the mandate, the company is authorized to repurchase up to 4,004,392 shares, representing 10% of its issued share capital.

The shares will be repurchased at a minimum price of £0.02 per share (exclusive of expenses) and the maximum price which may be paid for an ordinary share shall be the higher of 105% (exclusive of expenses) of the average market value of the company's equity shares for the five business days prior to the day the purchase is made according to the Daily Official List of the London Stock Exchange and the higher of the price of the last independent trade and the highest current independent bid for an ordinary share on the trading venue where the purchase is carried out. The shares repurchased will be cancelled. This authority will expire at the earlier of 15 months from the date of passing of proposal and conclusion of next Annual General Meeting in 2025.

As of July 31, 2023, the company had 40,043,920 issued shares.