Nictus Limited (JSE:NCS) announces a share repurchase program. Under the program, the company will repurchase up to 12,826,440 shares, representing 19.35% of its issued share capital for ZAR 7.47 million. The shares will be repurchased at a price of ZAR 58.25 per share.

These shares will be repurchased from Nictus Holdings Limited (NMSE:NHL)The repurchases will be funded from the cash resources. The repurchase shares will be delisted and cancelled on the implementation date. The program is subject to shareholders approval at its Special General Meeting to be held on October 24, 2018.