CPL Resources plc (ISE:DQ5) announces a share repurchase program. Under the offer, the company will repurchase up to 3,703,703 ordinary shares, representing 11.99% of its issued share capital. The shares will be purchased at a price of €6.75 per share for €25 million. The shares purchased under the offer will subsequently cancelled by the company. The offer will provide all qualifying shareholders with an opportunity to sell part of their respective shareholdings and to receive their respective share of the capital which the company is seeking to return up to the amount of their respective guaranteed entitlements. The qualifying shareholders may also be able to participate in excess of their guaranteed entitlement, potentially up to their maximum shareholding in the company, to the extent that other qualifying shareholders do not wish to participate in the offer in respect of their respective guaranteed entitlements. Each qualifying shareholder will be entitled to sell up to approximately 11.99% of the ordinary shares registered in their name on the record date under the offer, rounded down to the nearest whole number of ordinary shares. The qualifying shareholders may sell more than their guaranteed entitlement to the extent that other qualifying shareholders tender less than their guaranteed entitlement. If the aggregate purchase price of all ordinary shares tendered is €25 million or less, all ordinary shares validly tendered will be accepted and purchased at the tender price, subject to the receipt of valid tenders in respect of at least 3,000,000 ordinary shares. The offer will have a positive impact on both the company's earnings per share and dividend per share as all shares purchased under the offer will be cancelled. The offer is subject to shareholder approval at its EGM to be held on October 23, 2017. The record date for the offer is October 25, 2017. The offer will expire on October 25, 2017. As of September 26, 2017, the company had 30,875,856 ordinary shares in issue.