The shareholders of Newbury Racecourse plc authorized a share repurchase program at its General Meeting on November 15, 2012. Under the program, the company will repurchase 1,428,174 shares, representing approximately 29.9% of its issued shares, at a price of £4.5 per share, for a total cost of £6.43 million. The shares will be repurchased from Guinness Peat Group plc. The repurchased shares will be cancelled. The Independent Directors, comprising all Directors of the company except Erik Penser and Laurie Todd, unanimously recommend that shareholders vote in favour of the buyback program. The Board believes that the buyback will create value for all remaining shareholders by increasing the net asset value of the company, remove the uncertainty relating to the future ownership and create a more stable shareholder base for the company to execute its stated strategy and deliver long term benefits to shareholders and other key stakeholders. The company has drawn a £6.5million under the loan agreement with Compton Beauchamp Estates Limited to purchase the shares.

Newbury Racecourse plc completed the share repurchase program on November 15, 2012.