Smartgroup Corporation Ltd (ASX:SIQ) announces a share repurchase program. Under the program, the company will repurchase up to 54,000 shares. The purpose of the program is to repurchase shares from a former employee under the rules of the company's Loan Funded Share Plan.

The shares will be bought back with the proceeds applied to offset the loan taken out by the employee to acquire the shares. The program will be executed on November 15, 2022. As of October 31, 2022, the company has 133,724,773 issued shares.