EJF Investments Limited (LSE:EJFI) commences share repurchases on March 10, 2020, under the program mandated by the shareholders in the Annual General Meeting held on June 21, 2019. As per the mandate, the company is authorized to repurchase up to 10,426,623 ordinary shares, representing 14.99% of its issued share capital. The minimum price which may be paid for an ordinary share shall be one pence per ordinary share and the maximum price which may be paid for a share shall be the higher of 105% of the average of the middle market quotations as derived from the daily official List of the London Stock Exchange for the five business days immediately preceding the date of purchase and the higher of the price of the last independent trade and the highest current independent bid on the trading venue where the purchase is carried out. Unless previously varied, revoked or renewed, the authority shall expire on July 31, 2020. As of May 15, 2019, the company had 69,557,192 ordinary shares in issue. On March 9, 2020, the company announced share buyback program. Under the program the company will repurchase up to £5 million worth of its shares.