The shareholders of WH Smith plc (LSE:SMWH) authorized a share repurchase program at its Annual General Meeting on January 23, 2013. Under the program, the company will repurchase up to 18,341,242 shares, representing 14.95% of its issued share capital. The minimum price which may be paid for each ordinary share will not be less than 22 6/67p, the nominal value of each ordinary share and the maximum price which may be paid for each ordinary share will be equal to the higher of 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 the price stipulated by Article 5(1) of the Buy-back and Stabilisation Regulation 2003.

The company is generally and unconditionally authorized to make market purchases as defined in Section 693(4) of the Companies Act 2006. This program will expire on February 28, 2015 or at the conclusion of the next Annual General Meeting, whichever is earlier. As of November 20, 2013, the company has 122,683,890 issued ordinary shares.