JKX Oil & Gas plc (LSE:JKX) announces a share repurchase program. Under the program, the company will repurchase 17,172,313 shares, representing 9.98% of its issued share capital. The minimum price (exclusive of expenses) per ordinary share will be the nominal value of that share.

The maximum price (exclusive of expenses) 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 and the amount stipulated by Article 5(1) of the Buy-back and Stabilization Regulation 2003. The share repurchase program will expire at the conclusion of the next Annual General Meeting of the company or July 1, 2015, whichever is earlier, unless previously renewed, varied or revoked by the company in a general meeting. As of April 15, 2014, the company has 172,125,916 ordinary shares and 402,771 shares in treasury.