Albion Development VCT PLC commences an Equity Buyback Plan for 19,434,321 shares, representing 14.99% of its issued share capital under the authorization approved on May 10, 2022.

Albion Development VCT PLC (LSE:AADV) commences share repurchases on May 20, 2022, under the program mandated by the Annual General Meeting held on May 10, 2022. As per the mandate, the company is authorized to repurchase up to 19,434,321 shares, representing 14.99% of its issued share capital. The minimum price which may be paid for a share is £ 0.01.

The maximum price, exclusive of any expenses, which may be paid for each share is an amount equal to the higher of 105% of the average of the middle market quotations for a share for the 5 business days immediately preceding the day on which the share is purchased and the amount stipulated by Article 5(1) of the Buy-back and Stabilization Regulation 2003. The repurchases will be made out of the company's distributable profits. Unless previously revoked, varied or renewed, expire 15 months from this repurchase program or, if earlier, at the conclusion of the next Annual General Meeting in 2023.