Connexion Telematics Ltd (ASX:CXZ) announces a share repurchase program. Under the program, the company will repurchase up to 10% of its share capital. The purpose of the program is to maximize value for the company and its shareholders.

The company intends to seek shareholder approval for the repurchase of up to 20% of total shares on issue. The program will be valid for a period of 12 months.