Smiths News Plc (LSE:NWS) announces a share repurchase program. Under the program, Smith News will repurchase up to 18,899,239 shares, representing 10% of its issued share capital. The company is pursuant to Section 701 of the Companies Act 2006, generally and unconditionally authorized to make market purchases as defined in Section 693(4) of the Companies Act 2006.

The minimum price which may be paid per ordinary share will be £0.05. The maximum price which may be paid for any ordinary share shall be equal to the amount 105% of the average of the closing price of the company's ordinary shares as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such share is contracted to be purchased. Unless previously renewed, varied or revoked by the company in a General Meeting, the share repurchase program will expire at the conclusion of the next Annual General Meeting in 2014, or on February 28, 2015, whichever is earlier.

As of November 14, 2013, the company had 188,992,394 shares in issue.