JPMorgan Elect PLC commences share repurchases on December 9, 2016 under the program mandated by the shareholders in the Annual General Meeting held on November 22, 2016. As per the mandate, the company is authorized to repurchase Managed Growth shares, Managed Income shares and Managed Cash shares up to a maximum number of 5,047,825, 7,710,005 or 559,324 shares respectively, representing 14.99% of the issued share capital. The shares will be repurchased on the market. The minimum price which may be paid per ordinary share will be £0.25. The maximum price which may be paid for any ordinary share shall be equal to the amount 105% of the average of the closing price of the company's ordinary shares as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such share is contracted to be purchased. The program will expire at the conclusion of the next Annual General Meeting of the company unless previously renewed, varied or revoked by the company in a general meeting.