Polar Capital Global Healthcare Trust plc (LSE:PCGH) commences share repurchases on March 22, 2018 under the program mandated by the shareholders in the Annual General Meeting held on February 28, 2018. As per the mandate, the company is authorized to repurchase up to 18,400,225 shares, representing 14.99% of its issued share capital. The purpose of the buyback is to enhance shareholder value. Shares so purchased shall be cancelled immediately upon completion of the purchase or held, sold, transferred or otherwise dealt with as treasury shares. The shares will be repurchased at a price of £ 0.25 per share. The maximum price excluding expenses payable by the company for each ordinary share is the higher of 105% of the average of the middle-market quotations of the ordinary shares for the five business days prior to the date of the market purchase and the higher of the price of the last independent trade and the highest current independent bid for an ordinary share on the trading venues where the market purchases by the company pursuant to the authority conferred by this General Meeting. The plan will be valid up to next AGM or until the whole of the 14.99% has been utilized, whichever is the earlier. As on January 26, 2018, the company had 124,149,256 shares in issue and 1,399,56 shares in its treasury.