BlackRock Frontiers Investment Trust plc (LSE : BRFI) commences share repurchases August 19, 2020, under the program mandated by the shareholders in the Annual General Meeting held on February 4, 2020. As per the mandate, the company is authorized to repurchase up to 36,076,852 shares, representing 14.99% of its issued share capital. The minimum price which may be paid per ordinary share will be 1 cent. The maximum price which may be paid per ordinary share will be the higher of 5% above the average of the market value of a share for the five business days immediately preceding the date of the purchase as derived from the Daily Official List of the London Stock Exchange and the higher of the price of the last independent trade and the highest current independent bid for, any number of shares on the trading venue where the purchase is carried out. Unless previously renewed, revoked, or varied, the authority hereby conferred shall expire at the conclusion of the next Annual General Meeting of the company to be held in 2021 or March 31, 2021. As of September 30, 2019, the company had 240,672,801 shares in issue.