Perpetual Income & Growth Investment Trust plc (LSE:PLI) commences share repurchases on July 16, 2019, under the program mandated by the shareholders in the Annual General Meeting held on July 16, 2019. As per the mandate, the company is authorized to repurchase up to 35,135,617 shares, representing 14.99% of its issued ordinary share capital. The minimum price which may be paid for a share shall be 10p. The maximum price which may be paid for a share shall be an amount equal higher of 5% 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 five business days immediately preceding the day on which the share is purchased or the higher of the price of the last independent trade in the Shares and the highest then current independent bid. The repurchased shares will be cancelled or held as treasury shares. The authority hereby conferred shall expire at the conclusion of the next Annual General Meeting of the company or on the expiry of 15 months whichever is earlier.