Pembroke VCT plc (LSE:PEMV) commence share repurchases on February 1, 2018 under the program mandated by the shareholders in the Annual General Meeting on held on September 7, 2017. As per the mandate, the company is authorized to repurchase up to 14.99% of its issued ordinary share capital and 14.99% of its issued B Ordinary Share capital. The minimum price which may be paid for each ordinary and B Ordinary share will not be less than 1p, the nominal value of each ordinary share. The maximum price which may be paid for each ordinary share and B Ordinary Share shall not be more than the higher of an amount equal to 105% of the average of the middle market quotations for ordinary share and B ordinary share taken from the Official List for the 5 business days immediately preceding the day on which the share is purchased. The program will expire after 15 months or at the conclusion of the next Annual General Meeting, whichever is earlier. As on March 31, 2017, the company had 18,092,297 ordinary share 15,285,811 B ordinary share in issued share capital.