Mercia Asset Management PLC commences an Equity Buyback Plan for 44,658,120 shares, representing 10% of its issued share capital, under the authorization approved on September 21, 2023.

Mercia Asset Management PLC (AIM:MERC) commences share repurchases on November 28, 2023, under the program mandated by shareholders in the Annual General Meeting held on September 21, 2023. As per the mandate, the company is authorized to repurchase up to 44,658,120 shares, representing 10% of its issued share capital. The minimum price to be paid for repurchase is 0.001 pence.

The maximum price to be paid for repurchase is the higher of 5% above the average of the mid-market value of the Ordinary shares for the five business days before the purchase is made and the higher of the last independent trade and the highest current independent bid for any number of Ordinary shares on the trading venue where the purchase is carried out. The authorization will be valid till conclusion of the next Annual General Meeting of the Company or September 30, 2024, if earlier. The As of July 28, 2023, the company had 446,581,202 issued shares.