The Monks Investment Trust PLC (LSE:MNKS) commences share repurchases on September 13, 2023, under the program mandated by the shareholders in the Annual General Meeting held on September 7, 2023. As per the mandate, the company is authorized to repurchase 34,460,011 shares, representing 14.99% of the issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is £0.05 and the maximum price which may be paid for each ordinary share is the higher an amount equal to 5% above the average closing price on the London Stock Exchange of a share over the five business days immediately preceding the date of purchase 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 London Stock Exchange Trading System.

The shares purchased may either be retained as treasury shares for future reissue, resale, transfer or for cancellation. The authority shall expire at the conclusion of the next Annual General Meeting of the company in 2024. As of June 15, 2023, the company had 229,886,666 ordinary shares ordinary shares in issue.