Katana Capital Limited (ASX:KAT) announces a share repurchase program. Under the program, the company will repurchase up to 4,461,858 shares, representing 10% of the issued share capital. Such shares will be repurchased on the market. The shares will be repurchased from available cash resources. The company will exercise discretion in buying back its shares and expects to do so only when the share price is less than or equal to the last published net asset backing. The buyback program is not subject to shareholder approval. The program will be valid for 12 months until December 31, 2017, unless terminated earlier by the company. As of December 31, 2016, the company has 44,618,582 shares in issue.