Yellow Cake plc (AIM:YCA) commences share repurchases on January 23, 2020, under the program mandated by the shareholders in the Annual General Meeting held on July 17, 2019. As per the mandate, the company is authorized to repurchase up to 8,821,572 shares, representing 10% of its issued share capital. The maximum price which may be paid for an ordinary share is an amount equal to 105% of the average of the middle market quotations for the ordinary shares taken from the London Stock Exchange plc Daily Official List for five business days immediately preceding the day on which that Share is contracted to be purchased and an amount equal to the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out at the relevant time. The shares repurchases are held in treasury. The authority is valid till the conclusion of the next Annual General Meeting of the company to be held in 2020, unless renewed, varied or revoked by the company, As of June 18, 2019, the company had 88,215,716 shares are in issue. On January 22, 2020, the company entered into agreement with Numis Securities Limited to repurchase up to $2 million worth of its shares. The purpose of the share repurchases is to enhance the shareholders value. The repurchases will be made over three months.