Schroder British Opportunities Trust plc (LSE:SBO) commences share repurchases on May 17, 2022, under the program mandated by the shareholders in the Annual General Meeting held on November 30, 2021. As per the mandate, the company is authorized to repurchase up to 11,242,500 shares, representing 14.99% 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 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 London Stock Exchange. The minimum price which may be paid for an ordinary share is 1p. The repurchased shares will be cancelled or held as treasury shares. Unless previously renewed, varied or revoked, the program will be valid till the next Annual General Meeting in 2022. As at October 1, 2021, the company had 75,000,000 issued and outstanding shares.

Panmure Gordon (UK) Limited acted as broker to the company.