The shareholders of Avacta Group Plc (AIM:AVCT) authorized a share repurchase program at its Annual General Meeting on January 25, 2013. Under the program, the company will repurchase up to 315,684,491 shares, representing 10% of its issued capital as of December 20, 2012. The minimum price which may be paid for such ordinary shares is 0.1 pence per share (exclusive of advance corporation tax and expenses) and the maximum price (exclusive of expenses) which may be paid for an ordinary share is not more than the higher of 5% above 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 purchased and the amount stipulated by Article 5(1) of the Buy-back and Stabilisation Regulation (Commission Regulation 2273/2003).

Unless previously revoked or varied, the program will expire at the next Annual General Meeting or after 6 months from the end of the current financial year of the company, whichever is earlier. As of December 20, 2012, the company has 3,156,844,912 shares in issue.