Scottish Mortgage Investment Trust PLC (LSE: SMT) commences share repurchases on August 18, 2020, under the program mandated by the shareholders in the Annual General Meeting held on June 25, 2020. As per the mandate, the company is authorized to repurchase up to 218,083,485 shares, representing 14.99% of its issued share capital. The shares will be repurchased at a maximum price of 5% above the average of the middle market quotations for such shares taken from the London Stock Exchange Official List for the five business days immediately preceding the date the shares are contracted to be purchased. The minimum price which may be paid for an ordinary share is its nominal value. Such shares may subsequently be either sold for cash or cancelled. This authority will expire at the conclusion of the Annual General Meeting to be held in 2021.