The shareholders of Daily Mail & General Trust plc (LSE:DMGT) authorized a share repurchase program at its Annual General Meeting on February 6, 2013. Under the program, the company will repurchase up to 1,988,000 ordinary shares, representing 10% of its issued ordinary share capital and 37,308,365 ‘A’ ordinary non-voting shares, representing 10% of its issued ‘A’ ordinary non-voting share capital. The minimum price which may be paid will be £0.125. The maximum price ... which may be paid will be more than the lower of 5% above the average of the middle market quotation taken from the London Stock Exchange Daily Official List for the five business days immediately preceding the date of purchase and £18.75 per share. The program will expire at the conclusion of the next Annual General Meeting, unless previously renewed, varied or revoked by the company in a general meeting. As of December 20, 2012, the company has 19,886,472 ordinary shares in issue. As of March 22, 2013, the company has repurchased 1,400,000 shares, representing 0.36% for £9 million.
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