JPMorgan US Smaller Companies Investment Trust plc (LSE:JUSC) commences share repurchases on July 5, 2022, under the program mandated by the shareholders in the Annual General Meeting held on April 25, 2022. As per the mandate, the company is authorized to repurchase up to 9,747,358 shares, representing 14.99% of its issued share capital. The minimum price which may be paid for an ordinary share shall be 2.5 pence 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.

The authority shall expire at the company's next Annual General Meeting or at any other general meeting prior to such time.