Third Point Offshore Investors Limited (LSE:TPOU) commences share repurchases on June 8, 2022, under the program mandated by the shareholders in the Annual General Meeting held on June 8, 2022. As per the mandate, the company is authorized to repurchase up to 14.99% of its issued share capital. The maximum price which may be paid for an ordinary share is an amount equal to 105% of the average of the middle market quotations for the ordinary shares taken from the London Stock Exchange's main market for listed securities for five business days immediately preceding the day on which that share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out at the relevant time.

The minimum price which may be paid for an ordinary share is $0.01. The repurchased shares will be retained as treasury shares for future reissue, resale, transfer or cancellation. The program will be valid till the next Annual General Meeting in 2023, or 18 months from the passing of this resolution, whichever is earlier.