Oryx International Growth Fund Ltd. commences share repurchases on January 26, 2017, under the program mandated by the shareholders in the Annual General Meeting held on August 25, 2016. As per the mandate, the company is authorized to repurchase up to 10% of its issued capital. The minimum price which may be paid per ordinary share will be £0.50. The maximum price which may be paid for any ordinary share shall be equal to the amount 105% of the average of the closing price of the company's ordinary shares as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such share is contracted to be purchased. The share repurchase program will expire at the conclusion of the next Annual General Meeting of the company or after 18 months, whichever is earlier, unless previously renewed, varied or revoked by the company in a general meeting.