Adacel Technologies Limited (ASX:ADA) announces a share repurchase program. Under the program, the company will repurchase up to 7,926,817 shares, representing 10% of its issued share capital. The shares will be repurchased on the market. The program will be funded from the company’s cash reserves. The program being a part of capital management is thereby conducted in order to increase the earnings per share and returns on the equity. The objective of the program is to utilize the company’s surplus capital. The program will not require shareholder approval. The program will end on May 16, 2018. As of May 3, 2017, the company has 79,268,178 shares in issue.