The shareholders of Ventus 2 VCT plc (LSE:VEN2) authorized a share repurchase program at its Annual General Meeting on July 24, 2012. Under the program, the company will repurchase up to 3,660,956 ordinary shares and 1,698,233 "C" shares, representing 14.99% of the current issued share capital of each class. The minimum price to be paid is 25p per share, exclusive of any expenses, of not more than an amount equal to the higher of either 105% of the average of the middle market prices shown in the quotations for a share in The London Stock Exchange Daily Official List for the five business days immediately preceding the day on which that share is purchased; and the amount stipulated by Article 5(1) of the Buy-back and Stabilisation Regulation 2003. The company may make a contract or contracts to purchase its own shares under this authority before the expiry of the authority which will or may be executed wholly or partly after the expiry of the authority, and may make a purchase of its own shares in pursuance of any such contract or contracts as if the authority conferred hereby had not expired. The share repurchase program will be valid until the earlier of the date of the next Annual General Meeting in 2013 or 18 months.