Thames Ventures VCT 1 plc (LSE:TV1) commences share repurchases on September 30, 2022, under the program mandated by the shareholders in the Annual General Meeting held on August 15, 2022. As per the mandate, the company is authorized to repurchase up to 26,876,702 shares, representing (10%) of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is 1p 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 purchase was made.

The authority shall expire at the conclusion of the next Annual General Meeting of the company or, if earlier, on the expiry of 15 months from the passing of this resolution. As of July 7, 2022, the company had 180,380,551 ordinary shares in issue.