RIT Capital Partners plc (LSE:RCP) commences share repurchases on June 17, 2022 under the program mandated by the shareholders in the Annual General Meeting held on May 4, 2022. As per the mandate, the company is authorized to repurchase up to 23,485,258 shares, representing 14.99% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is £1and the maximum price which may be paid for each ordinary share is the higher an amount equal to 105% of the average of the middle market quotations for an ordinary share as derived from the London Stock Exchange Daily Official List of the UK Listing Authority for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased 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 as derived from the London Stock Exchange Trading System.

The shares purchased may held as treasury shares, which may then be cancelled or sold for cash. The authority shall expire at the conclusion of the next Annual General Meeting of the company in 2023, or at close of business on June 30, 2023, whichever is earlier. As of March 21, 2022, the company had 156,672,836 ordinary shares in issue and 175,229 shares were held in treasury.