JPMorgan Emerging Markets Investment Trust plc (LSE:JMG) commences share repurchases on November 8, 2023, under the program mandated by the shareholders in the Annual General Meeting held on November 8, 2023. As per the mandate, the company will make market repurchases up to 171,977,211 shares, representing 14.99% of the issued share capital. The maximum price which may be paid for an ordinary share shall be an amount equal to the highest of either 105% of the average of the middle market quotations for an ordinary share taken from and calculated by reference to the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased or the price of the last independent trade or the highest current independent bid.

The minimum price which may be paid for an ordinary share shall be 25 pence. The company intends to hold in treasury any shares it may repurchase pursuant to the authority. The authority hereby conferred shall expire on May 7, 2025, unless the authority is renewed at the company?s Annual General Meeting in 2024 or at any other general meeting prior to such time.

As at September 26, 2023, the company had 1,323,635,250 ordinary shares in issue, of which 176,355,657 shares are held in treasury.