RTW Biotech Opportunities Ltd (LSE:RTW) commences share repurchases on July 20 2023, under the program mandated by the shareholders in the Annual General Meeting held on June 21, 2023. As per the mandate, the company is authorized to repurchase up to 31,837,132 shares, representing 14.99% of its issued share capital. The minimum price 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 of an amount equal to 105% of the average of the middle market quotations for an ordinary share, as derived from the London Stock Exchange Daily Official List, for the five business days immediately preceding the day on which the ordinary share is 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 as derived from the London Stock Exchange Trading System.

Any shares purchased under this authority may either be cancelled or held as treasury shares. The authority shall expire on the date which is 15 months from the date of passing of this resolution or, if earlier, at the end of the Annual General Meeting of the company to be held in 2024. As of May 26, 2023, the company had 212,389,138 ordinary shares in issue and no shares in treasury.