Auto Trader Group plc (LSE:AUTO) commences share repurchases on October 2, 2023, under the program mandated by the shareholders in its Annual General Meeting on September 14, 2023. As per the mandate, the company is authorized to repurchase up to 92,019,875 shares, representing 10% of its issued share capital. The minimum price which may be paid for an ordinary share is the nominal value of an ordinary share at the time of such purchase.

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 quotation of an ordinary share of the company as derived from the London Stock Exchange plc's daily official list 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 of the company and the highest current independent bid for an ordinary share of the company as derived from the London Stock Exchange Trading System. The ordinary shares purchased under this authority may either be held as treasury shares or cancelled by the company. The authority shall expire at the close of the next AGM of the company or, if earlier, close of business on December 13, 2024.

As of June 26, 2023, the company had 920,198,755 shares in issue and 4,251,906 shares in treasury.