International Personal Finance plc (LSE:IPF) commences share repurchases on August 5, 2024, under the program mandated by the shareholders in the Annual General Meeting held on May 2, 2024. As per the mandate, the company is authorized to repurchase up to 22,414,959 shares, representing 10% of its issued share capital. The maximum price which may be paid for an ordinary share is an amount equal to 105% of the average of the middle market quotations for the ordinary shares taken from the London Stock Exchange plc Daily Official List for five business days immediately preceding the day on which that Share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out at the relevant time. The minimum price which may be paid for an ordinary share is the nominal value of the share. The repurchased shares will be cancelled or held as treasury shares. The authority shall expire at the earliest of the next Annual General Meeting, or on June 30, 2025. As of March 15, 2024, the company had 224,149,599 issued and outstanding shares and had 10,094,838 treasury shares.

On July 31, 2024, the company announces a share repurchase program. Under the program, the company will repurchase up to £15 million worth of its shares, through non-discretionary agreement entered into with the company?s broker. The purpose of the program is to return additional capital to shareholders and reduce the company?s share capital. The repurchased shares will be cancelled.