The shareholders of Cellcast plc. (AIM:CLTV) authorized a share repurchase program at its Annual General Meeting on June 29, 2012. Under the program, the company will repurchase up to 7,751,323 shares, representing 10% of its issued ordinary share capital. The minimum price (excluding expenses) which may be paid for an ordinary share is 1p. The maximum price which may be paid for an ordinary share is an amount equal to 105% of the average of the middle-market prices shown in the quotation for an ordinary share as derived from the Stock Exchange Automated Quotation System for the 10 business days immediately preceding the day on which the ordinary share is purchased. The authority is valid till the next Annual General Meeting in 2013 or for 15 months, whichever is earlier. As of May 31, 2012, the company has 77,513,224 shares in issue.