Solid State plc commences an Equity Buyback Plan for 1,697,317 shares, representing 15% of its issued share capital, under the authorization approved on September 7, 2022.

Solid State plc (AIM:SOLI) commences share repurchases on December 12, 2022, under the program mandated by the shareholders in the Annual General Meeting held on September 7, 2022. As per the mandate, the company is authorized to repurchase up to 1,697,317 shares, representing 15% 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 of the ordinary shares taken from the Daily Official List of the London Stock Exchange for 10 dealing days, immediately preceding the day on which the share is contracted to be purchased.

The minimum price which may be paid for an ordinary share is £0.05. The repurchased shares will principally be used to satisfy future awards under the Company's Staff All Employee Share Ownership Plan. The program will be valid for a period of 18 months from the passing of this resolution, unless such authority is renewed prior to such expiry.

As of August 5, 2022, the company had 11,322,394 in issue of which 6,946 shares are in treasury.