Maven Income and Growth VCT 3 PLC (LSE:MIG3) commences share repurchases on May 15, 2020, under the program mandated by the shareholders in the Annual General Meeting held on April 8, 2020. As per the mandate, the company is authorized to repurchase up to 7,878,460 shares, representing 10% of its issued share capital. The minimum price that may be paid for any share is £0.10 and the maximum price that may be paid for any share shall not be more than the higher of an amount equal to 105% of the average of the closing middle market price for the ordinary shares as derived from the London Stock Exchanges Daily Official List for the five business days immediately preceding the date on which the ordinary share is purchased. The shares repurchased by the company under the authority would either be cancelled or held as treasury shares. Unless previously renewed, varied or revoked, the authority will be valid until the next Annual General Meeting in 2021, or for 15 months from the date of passing of the resolution, whichever is earlier. As of March 6, 2020, the company had 78,784,600 shares in issue.