Seneca Global Income & Growth Trust plc (LSE:SIGT) commences share repurchases on July 28, 2021 under the program mandated by the shareholders in the Annual General Meeting held on July 22, 2021. As per the mandate, the company is authorized to repurchase up to 5,124,533 shares, representing 14.99% of its issued share capital. The minimum price which may be paid is £0.25 per share and the maximum price which may be paid shall not be more than the higher of an amount equal to 5% above the average of the middle market quotations for an ordinary share taken from the London Stock Exchange daily official list for the 5 business days immediately preceding the date on which the ordinary share is contracted to be purchased, and the higher of the price of the last independent trade and the current highest independent bid on the trading venue where the purchase id carried out.

The authorization will expire at the next Annual General Meeting, unless such authority is renewed, revoked or varied prior to such time by the company in General Meeting and the company may make a contract to purchase ordinary shares under the authority hereby conferred prior to the expiry of such authority which will or may be executed wholly or partly after the expiration of such authority and may make a purchase of ordinary shares pursuant to any such contract or October 22, 2022, whichever is earlier. As of June 15, 2021, the company had 49,601,088 shares in issue and 15,414,740 shares in its treasury.