Downing FOUR VCT plc (LSE:DO1C) commences share repurchases on September 12, 2019, under the program mandated by the shareholders in the Annual General Meeting held on September 10, 2019. As per the mandate, the company is authorized to repurchase up to 1,172,220 class D shares, representing approximately 14.9% of the issued D share capital, 1,667,628 class DP67 shares, representing approximately 14.9% of the issued DP67 share capital, 2,330,966 class DP2011 general ordinary shares, representing approximately 14.9% of the issued DP2011 general ordinary 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 shares representing approximately 14.9% of the issued ‘DP2011’ Structured A share capital, 7,319,568 generalist shares representing approximately 14.9% of the issued generalist share capital, 3,041,188 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 2020 or after 15 months from this repurchase program, whichever is earlier, unless previously varied or revoked.