TomTom N.V. (ENXTAM:TOM2) announces a share repurchase program. Under the program, the company will repurchase up to 7% of its issued share capital, for ?50 million worth of its shares. The purpose of the program is to reduce its share capital.

The company intends to cancel all shares purchased as part of the program, subject to shareholder approval. The program will be valid till 12 months.