Polar Capital Global Financials Trust plc commences an Equity Buyback Plan for 48,658,139 shares, representing 14.99% of its issued share capital, under the authorization approved on March 30, 2023.

Polar Capital Global Financials Trust plc (LSE:PCFT) commences share repurchases on April 6, 2023, under the program mandated by the shareholders in the Annual General Meeting held on March 30, 2023. As per the mandate, the company is authorized to repurchase up to 48,658,139 shares, representing 14.99% of its issued share capital. The maximum amount is equal to 105% of the average of the closing middle market quotations for an ordinary share (as derived from the London Stock Exchange Daily Official List) for the five Business Days immediately preceding the day on which that ordinary share is contracted to be purchased; and the higher of the price of the last independent trade and the highest current independent bid on the London Stock Exchange at the time the purchase is carried out.The minimum price to be paid will be 5p per ordinary share.

The authority is valid until the conclusion of the next Annual General Meeting. As of February 20, 2023, the company had 331,750,000 ordinary shares issued and 7,146,000 ordinary shares in treasury.