Maven Income and Growth VCT 5 PLC (LSE:MIG5) commences share repurchases on April 27, 2023, under the program mandated by the shareholders in the Annual General Meeting held on April 25, 2023. As per the mandate, the company is authorized to repurchase up to 28,002,777 shares, representing 14.99% of its ordinary shares in issue. The minimum price shall be £0.10 per share and a maximum price which shall be the higher of an amount equal to 105% of the average of the closing middle market price for the ordinary shares as derived from the London Stock Exchange's daily official list for the 5 business days immediately preceding the date on which the ordinary shares are purchased.

The repurchased shares may be cancelled or held in treasury to be sold for cash. The repurchases will be funded from distributable reserves and will normally be paid out of cash balance of the company. The program shall expire at the conclusion of the next Annual General Meeting of the company, or if earlier, on the expiry of 15 months from the passing of the resolution, unless previously renewed, varied or revoked.

As of March 22, 2023, the company had 186,809,726 ordinary shares in issue.