Downing FOUR VCT plc (LSE:DO1C) commences share repurchases on January 10, 2018 under the program mandated by the shareholders in the Annual General Meeting held on September 5, 2017. As per the mandate, the company is authorized to repurchase up to 2,966,749 class ‘B’ shares, representing approximately 14.9% of the issued ‘B’ share capital, 4,458,984 class ‘C’ shares, representing approximately 14.9% of the issued ‘C’ share capital, 1,172,220 class ‘D’ shares, representing approximately 14.9% of the issued ‘D’ Share capital, 1674728 class ‘DP67’ shares, representing approximately 14.9% of the issued ‘DP67’ share capital, 2,330,966 class ‘DP2011’ ordinary shares, representing approximately 14.9% of the issued ‘DP2011’ ordinary share capital, 2,744,373 class ‘DP2011’ General A shares, representing approximately 14.9% of the issued ‘DP2011’ General A share capital, 1,591,130 class ‘DP2011’ Structured ordinary shares, representing approximately 14.9% of the issued ‘DP2011’ Structured ordinary share capital, 1,873,350 class ‘DP2011’ Structured A shares, representing approximately 14.9% of the issued ‘DP2011’ Structured A share capital, 1,128,737 class ‘DP2011’ Low Carbon shares, representing approximately 14.9% of the issued ‘DP2011’ Low Carbon share capital, 4,171,799 class Generalist shares, representing approximately 14.9% of the issued Generalist share capital, 969,020 Healthcare shares, representing approximately 14.9% of the issued Healthcare share capital. The minimum price per ordinary share will be £0.01. The maximum price which may be paid for any ordinary share shall be equal to 105% over the average of the middle market price of the ordinary shares as derived in the Daily Official List of the London Stock Exchange for the five business days immediately preceding the day on which the shares are contracted to be repurchased. The program will expire at the conclusion of the next Annual General Meeting in 2018 or after 15 months from this repurchase program, whichever is earlier, unless previously varied or revoked. As of July 31, 2017, the company had 19,911,070 class ‘B’ shares, 29,926,070 class ‘C’ shares, 7,867,247 class ‘D’ shares, 11,239,785 class ‘DP67’ shares, 15,644,066 class ‘DP2011’ ordinary shares18,418,614 class ‘DP2011’ General A shares, 10,678,725 class ‘DP2011’ Structured ordinary shares, 12,572,817 class ‘DP2011’ Structured A shares, 7,575,419 class ‘DP2011’ Low Carbon shares, 27,998,650 class Generalist shares6,503,489 Healthcare shares.