Konekt Limited (ASX:KKT) announces a share repurchase program. Under the program, the company will repurchase up to 19,697,363 shares, representing 18.7% of the shares in issue. The price which the company will pay for its shares shall not be more than 5% above the volume weighted average market price of shares calculated over the previous 5 days on which sales in shares were recorded. The repurchased shares will be cancelled. The repurchase program is part of the company’s capital management initiative. The company has received shareholder approval for its share repurchase program at its Annual General Meeting. The repurchase program is valid for a period of 12 months. As of November 2, 2018, the company has 105,336,835 shares in issue.