Smithson Investment Trust PLC (LSE : SSON) commences share repurchases on April 28, 2023, under the authorization approved by the shareholders in the Annual General Meeting held on April 27, 2023. As per the mandate, the company is authorized to repurchase up to 25,536,657 shares, representing 14.99% of its issued share capital. The minimum price which may be paid for an ordinary share is 1p being the nominal value of an ordinary share.

The maximum price which may be paid for an ordinary share is not more than the higher of 5% above the average of the middle market quotations for the ordinary shares for the five business days immediately before the day on which it purchases that share and the higher of the price of the last independent trade and the highest current independent bid for the ordinary shares. The authority hereby conferred shall expire at the conclusion of the Annual General Meeting of the company in 2024 or, if earlier, on the expiry of 15 months from the passing of this resolution, unless such authority is renewed prior to such time. As of February 22, 2023, the company had 170,357,958 ordinary shares in issue and 6,750,000 shares in treasury.