Invesco Asia Trust plc (LSE:IAT) commences share repurchases on January 15, 2019, under the program mandated by the shareholders in the Annual General Meeting held on July 31, 2018. As per the mandate, the company is authorized to repurchase up to 11,242,482 ordinary shares, representing 14.99% of its issued share capital. The minimum price which may be paid for a share shall be £0.10 and the maximum price which may be paid for a share shall be an amount equal to 105% of the average of the middle market quotations for a Share taken from and calculated by reference to the London Stock Exchange Daily Official List for the 5 business days immediately preceding the day on which the share is purchased. Any purchase of shares will be made in the market for cash at prices below the prevailing net asset value per share. Repurchased shares will be either cancelled or held in treasury. The share repurchase program shall expire at the earliest of the conclusion of the next Annual General Meeting or after 15 months from this repurchase program. As of June 27, 2018, the company had 70,914,475 ordinary shares in issue and 4,085,406 shares in treasury.