Glenveagh Properties PLC (ISE:GVR) commences share repurchases on January 9, 2023, under the program mandated by the shareholders in the Extraordinary General Meeting held on December 15, 2022. As per the mandate, the company is authorized to repurchase up to 63,813,172 shares, representing 10% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is nominal value of the ordinary shares 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 Euronext Dublin Daily Official List and/or the London Stock Exchange Daily Official List as the case maybe, 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.

The authority shall expire at the close of business on December 31, 2023. As of December 15, 2022, the company had 638,131,720 shares in issue.