Baltic Classifieds Group PLC (LSE:BCG) commences share repurchases on September 27, 2023, under the program mandated by the shareholders in the Annual General Meeting held on September 27, 2023. As per the mandate, the company is authorized to repurchase up to 49,604,596 shares, representing 10% of its issued share capital. The minimum price which may be paid for each ordinary share is £0.01 and the maximum price which may be paid for each ordinary share is the higher of 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 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 on the trading venue where the purchase is carried out.

Any shares purchased under this authority may either be cancelled or held as treasury shares. The authority shall expire at the earliest of the conclusion of the next Annual General Meeting, or on December 27, 2024, whichever is earlier. As of June 27, 2023, the company had 496,045,965 ordinary shares in issue and no shares in treasury.