Scottish Oriental Smaller Companies Trust plc (LSE:SST) commences share repurchases on December 8, 2020, under the program mandated by the shareholders in the Annual General Meeting held on December 8, 2020. As per the mandate, the company is authorized to repurchase up to 4,335,104 shares, representing 14.99% of its issued capital. The minimum price which may be paid per ordinary share will be £0.25. The maximum price which may be paid for any ordinary share will not be more than the higher of 5% above the average of the middle market quotations (as derived from the daily official list of the London Stock Exchange) for the ordinary shares over the five business days immediately preceding the date of repurchase and the higher of the last independent trade and the highest current independent bid on the London Stock Exchange. The repurchases will enhance the net asset value of the shares. The repurchased shares will either be cancelled or held in treasury. The share repurchase program will expire at the conclusion of the next Annual General Meeting or after 15 months, whichever is earlier, unless previously renewed, varied or revoked by the company in a General Meeting. As of October 30, 2020, the company had 31,413,663 ordinary shares in issue of which 2,493,688 ordinary shares are held in treasury.