The Monks Investment Trust PLC (LSE:MNKS) commences share repurchases on January 13, 2022, under the program mandated by the shareholders in the Annual General Meeting held on September 2, 2021. As per the mandate, the company is authorized to repurchase 35,444,433 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% 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 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 London Stock Exchange Trading System.

The shares purchased may either be cancelled or held as treasury shares, which may then be cancelled, sold for cash. The authority shall expire at the conclusion of the next Annual General Meeting of the company or April 30, 2022, whichever is earlier. As of June 15, 2021, the company had 236,453,859 ordinary shares ordinary shares in issue.