North Atlantic Smaller Companies Investment Trust PLC (LSE:NAS) commences share repurchases on June 23, 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 20, 2023. As per the mandate, the company is authorized to repurchase up to 1,353,791 ordinary shares, representing 10% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is 5 pence and the maximum price which may be paid for each ordinary share is the higher an amount equal to 5% of the average of the middle market quotations for an ordinary share for the five business days immediately preceding the day on which the ordinary share as derived from the Official List 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 on the trading venue.

The shares purchased will either be cancelled or held in treasury. The program will be funded out of the available reserves. The authority shall expire at the conclusion of the next Annual General Meeting of the company.

As of May 16, 2023, the company had 13,537,909 ordinary shares in issue and no ordinary shares in treasury.