Downing Renewables & Infrastructure Trust PLC (LSE:DORE) commences share repurchases on June 7, 2024, under the program mandated by the shareholders in the Annual General Meeting held on June 6, 2024. As per the mandate, the company is authorized to repurchase up to 26,566,361 shares, representing 14.99% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is £0.01 and the maximum price which may be paid for each ordinary share is the higher an amount equal to 5% above the average of the closing mid?market value of ordinary shares for the five business days before the purchase is made and the higher of the price of the last independent trade and the highest current independent bid for the ordinary shares on the trading venue where the purchase is carried out.

The shares purchased may either be cancelled or held as treasury shares for further resale. The program will be funded out of the available cash resources of the company. The authority shall expire earlier of the next Annual General Meeting in 2025 or December 31, 2025, unless revoked by the company.

As of April 24, 2024, the company had 177,227,225 ordinary shares outstanding and had 7,395,262 shares held in treasury.