The shareholders of Austro Group Limited (JSE:ASO) authorized a share repurchase program at the Annual General Meeting on January 25, 2012. Under the plan, the company will repurchase up to 20% of the issued share capital or 10% where such acquisitions are effected by a subsidiary. The company will repurchase its shares at a maximum premium of 10% of the weighted average of the market value of the securities for the five business days immediately preceding the day on which the transaction is effected. The repurchases will be pursuant to sections 85 to 89 of the Companies Act No. 61 of 1973, as amended. The repurchases will be made through the order book operated by the JSE trading system and is done without the prior understanding or arrangement between the company and the counter party. The repurchases will be in accordance with the articles of association of the company. The company may appoint only one agent to effect any repurchases under the program. The company will not repurchase its shares during the close period. The repurchase will only be made, if the company complies with the shareholder spread requirements of the JSE. The company will make a public announcement for every repurchase of 3% of the share capital. The share repurchase program shall expire at the conclusion of the next Annual General Meeting of the company or after 15 months, whichever is earlier.