F&C Managed Portfolio Trust plc - Income Shares commences share repurchases on January 13, 2016, under the program mandated by the shareholders in the Annual General Meeting held on September 22, 2016. As per the mandate, the company is authorized to will repurchase up to 14.99% of the issued share capital of the company. The minimum price which the company will pay for its ordinary shares is 10p of such shares and the maximum price which the company will pay for its shares shall be highest of 5% above the average closing price on the London Stock Exchange of an Income Share or Growth Share over the five business days immediately preceding the date of purchase and the higher of the last independent trade and the highest current independent bid on the London Stock Exchange Unless previously revoked or varied, the share repurchase program shall expire at the earliest of the conclusion of the next Annual General Meeting of the company in 2017 or December 22, 2017, whichever is earlier. As of July 26, 2016, the company had 41,785,035 Income Shares and 33,683,500 Growth Shares in issue and had 750,000 Income Shares and 593,537 Growth Shares in treasury.