Value and Indexed Property Income Trust Plc (LSE:VIP) commences share repurchases on September 11, 2023, under the program mandated by the shareholders in the Annual General Meeting held on August 2, 2023. As per the mandate, the company is authorized to repurchase up to 6,447,568 shares, representing 14.99% of its issued share capital. The minimum price which may be paid for each ordinary share is 10 pence and 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 for the five business days immediately preceding the date of purchase 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 either be cancelled or held as treasury shares, which may then be cancelled or sold, reissued, or transferred. The authority shall expire at the conclusion of the next Annual General Meeting in 2024 or 15 months from date of passing of the resolution, whichever is earlier. As of June 26, 2023, the company had 43,012,464 ordinary shares in issue and 2,537,511 shares in treasury.

Panmure Gordon acted as broker to the company.