Baillie Gifford European Growth Trust plc (LSE:BGEU) commences share repurchases on March 9, 2022, under the program mandated by the shareholders in the Annual General Meeting held on February 3, 2022. As per the mandate, the company is authorized to repurchase up to 54,653,440 shares, representing 14.99% of its issued share capital. The minimum price which may be paid by the company shall be the nominal value of that share and the maximum price (exclusive of expenses) which may be paid by the company for an ordinary share shall be no more than the higher of 5% of the average of the closing mid-market price of such shares as derived from the Daily Official List of the London Stock Exchange for the five business days prior to the date of the purchase. The repurchased shares will be used either for retention as treasury shares for future reissue, resale, transfer
or cancellation. The plan will expire at the conclusion of the next Annual General Meeting of the Company to be held in respect of the year ending September 30, 2022, unless previously varied, revoked or renewed by the company in a general meeting. As of November 22, 2021, the company had 364,599,330 ordinary shares in issue.