Serinus Energy plc (AIM:SENX) commences share repurchases on December 14, 2021, under the program mandated by the shareholders in the Annual General Meeting held on May 13, 2021. As per the mandate, the company is authorized to repurchase up to 114,066,063 shares , representing 10% of its issued share capital. The minimum price which may be paid for each ordinary share is s £0.01 and the maximum price which may be paid for each ordinary share is the higher of an amount equal to 5% of the average of the 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 the ordinary share is 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. Any shares purchased under this authority may either be cancelled or held as treasury shares. The shares in treasury may subsequently be cancelled, sold for cash or used to satisfy options issued to employees pursuant to the RELX Group plc employee share plans. The authority shall expire at the earliest of the conclusion of the next Annual General Meeting, or 15 months whichever is earlier. As of April 19, 2021, the company had 1,140,660,629 ordinary shares in issue and has no treasury shares.