Henderson European Focus Trust plc (LSE:HEFT) commences share repurchases on August 22, 2022, under the program mandated by the shareholders in the Annual General Meeting held on January 27, 2022. Under the plan, the company will repurchase up to 3,201,347 shares, representing 14.99% of its issued share capital. The minimum price which may be paid for one ordinary share is the nominal value of the share.

The maximum price which may be paid for one ordinary share shall be an amount equal to the highest of either 105% of the average of the middle market quotations for an ordinary share as derived from the Stock Exchange Daily Official List for the five business days immediately preceding the date on which the ordinary share is purchased or the price of the last independent trade or the highest current independent bid. The repurchased shares will be held in treasury or cancelled. Unless previously renewed, varied or revoked, the authority shall expire at the conclusion of the next Annual General Meeting of the company or after 15 months, whichever is earlier.

As at December 8, 2021, the company had 21,638,991 shares in issue and 282,443 shares were held in treasury.