BMO Managed Portfolio Trust PLC - Income Shares (LSE : BMPI) commences share repurchases on October 14, 2020, under the program mandated by the shareholders in the Annual General Meeting held on September 24, 2020. As per the mandate, the company is authorized to repurchase up to 14.99% of its issued Income share capital. The minimum price which may be paid for an Income share or Growth share will be £0.01. The maximum price which may be paid for an Income share or Growth share will not be more than the higher of 5% above the average closing price on the London Stock Exchange of an Income share or Growth share over the five business days immediately preceding the date of purchase and the higher of the last independent trade and the highest current independent bid on the London Stock Exchange. Unless varied or revoked, the authority shall expire at the conclusion of the next Annual General Meeting or on December 24, 2021, whichever is the earlier. As of August 5, 2020, the company had 46,885,537 Income shares in issue.