Element Fleet Management Corp. (TSX:EFN) announces a share repurchase program. Under the bid, the company will repurchase 38,582,483 common shares, representing 9.92% of the issued share capital. The repurchases will be at prevailing market prices. The bid will be funded using existing cash resources, and the shares repurchased by the company under the bid will be cancelled. The normal course issuer bid will expire on the earlier of June 11, 2018 and the completion of purchases under the bid. As of June 7, 2017, the company had 389,022,985 issued and outstanding common shares.