Maven Income and Growth VCT PLC (LSE:MIG1) commences share repurchases on November 5, 2018, under the program mandated by the shareholders in the Annual General Meeting held on July 5, 2018. As per the mandate, the company is authorized to repurchase up to 7,962,520 shares, representing 14.99% of its ordinary shares in issue. The minimum price shall be £0.10 per share and a maximum price which shall be the higher of an amount equal to 105% of the average of the closing middle market price for the ordinary shares as derived from the London Stock Exchange's daily official list for the 5 business days immediately preceding the date on which the ordinary shares are purchased and the price stipulated by Article 5(1) of Commission Regulation (EC) No. 273/2003 (the Buyback and Stabilisation Regulation). The repurchased shares will be cancelled or held as treasury shares. The repurchases will be funded from distributable reserves and will normally be paid out of cash balance of the company. The program shall expire at the conclusion of the next Annual General Meeting of the company, or if earlier, on the expiry of 15 months from the passing of the resolution, unless previously renewed, varied or revoked, save that the company may before such expiry enter into a contract to purchase ordinary shares which will or may be completed wholly or partly after such expiry. As of February 28, 2018, the company had 53,563,884 ordinary shares in issue.