J. Smart & Co. (Contractors) PLC (LSE:SMJ) commences share repurchases on January 15, 2016, under the program mandated by the shareholders in the Annual General Meeting held on December 17, 2015. As per the mandate, the company is authorized to repurchase up to 4,597,390 shares, representing 10% of its issued shares The company cannot pay a price per ordinary share which is less than the nominal value (2p per ordinary share) or more than 105% of the average of the middle market quotations of the ordinary shares taken from the London Stock Exchange Daily Official Listing for the five business days immediately before the day on which such ordinary shares are purchased.

Any shares purchased will be cancelled. The purpose of the share repurchase is to enhance the earnings per share and/or the equity shareholders' funds per share. This authority will be valid until the end of the Annual General Meeting to be held in 2016.

As of July 31, 2015, the company had 45,974,000 shares in issue.