abrdn New Dawn Investment Trust plc (LSE:ABD) commences share repurchases on September 6, 2022, under the program mandated by the shareholders in the Annual General Meeting on September 6, 2022. As per the mandate, the company will repurchase up to 15,947,763 shares, representing 14.99% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is 5p and the maximum price which may be paid for each ordinary share is the higher 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 of the UK Listing Authority for the five business days immediately preceding the day on which the ordinary share is contracted to be 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 as derived from the London Stock Exchange Trading System.

The shares purchased may either be cancelled or held as treasury shares. The authority shall expire at the conclusion of the next Annual General Meeting of the company to be held in 2023 or 31 October 2023, whichever is earlier. As of July 6, 2022, the company had 106,389,348 shares in issue and 10,709,701 shares in treasury.