The Character Group plc (AIM:CCT) commences share repurchases on January 21, 2022, under the program mandated by the shareholders in the Annual General Meeting held on January 21, 2022. As per the mandate, the company is authorized to repurchase up to 3,200,000 shares, representing 14.97% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is £0.05 and the maximum price pursuant to tender offers which may be paid for each ordinary share shall be no more than 150% of the average of the middle market quotations as as derived from the London Stock Exchange's Daily Official List for the five business days immediately preceding the date on which a circular is posted to shareholders and in case of purchases other than tender offer the maximum price paid per share will be higher of 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 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 trading venue.

The shares will be cancelled or held as treasury shares immediately upon completion of the purchase. The authority shall expire within 15 months or conclusion of the next Annual General Meeting of the company, whichever is earlier. As of December 22, 2021, the company had 21,382,281 ordinary shares in issue (excluding shares held in treasury).