ELB Group Limited (JSE:ELR) commences share repurchases on January 17, 2018 under the program mandated by the shareholders in the Annual General Meeting held on November 23, 2017. As per the mandate, the company is authorized to repurchase up to 852,900 shares, representing 2.62% of the company's issued share capital. from specific participants of the ELB Share Incentive Scheme. The purpose of the buyback is to settle loan obligations. The repurchase price is based on the 30-day volume weighted average price of the company’s shares on the JSE at 20 March 2018. The buyback plan will terminate when the company releases its interim results for the six months ended 31 December 2017 on SENS, which is expected to be on or before 30 March 2018.