JPMorgan European Discovery Trust plc (LSE:JEDT) commences share repurchases on October 12, 2021, under the program mandated by the shareholders in the Annual General Meeting held on July 21, 2021. As per the mandate, the company is authorized to repurchase up to 23,903,486 shares, representing 14.99% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is the nominal value per share and the maximum price which may be paid for each ordinary share is the higher an amount equal to 105% of the average of the middle market quotations for an ordinary share as derived from the London Stock Exchange Daily Official List of the UK Listing Authority for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade of an ordinary share and the current highest independent bid for an ordinary share as derived from the London Stock Exchange Trading System.

The shares purchased may either be cancelled or held as treasury shares. The authority shall expire on January 20, 2023 or at the conclusion of the next Annual General Meeting of the company, whichever is earlier. As of June 11, 2020, the company had 159,462,885 ordinary shares in issue.