Indequity Group Limited (JSE:IDQ) commences share repurchases on November 29, 2017, under the program mandated by the shareholders in the Annual General Meeting held on December 7, 2016. As per the mandate, the company is authorized to repurchase its own shares such that any acquisition may not exceed 20% of its issued share capital. The shares will be repurchased at a price not more than 10% above the weighted average of the market value of the shares for the five business days immediately preceding the date of acquisition. The repurchases will be used by the company to pay their debts in the ordinary course of business. The program will be funded from the company’s available cash resources. The program shall be valid until the company’s next annual general meeting or for 15 months from the date of Annual General Meeting, whichever period is shorter. As of November 4, 2016, the company had 11,405,632 shares in issue.