Summit Properties Limited (AIM:SMTP) announces a share repurchase program. Under the program, the company will repurchase up to 148,275,862 ordinary shares, representing 33.3% of its issued share capital, for total worth of €215 million. The shares will be repurchased at a price of €1.45 per ordinary shares. The shares repurchased will be held in cancelled. The share repurchases will be funded from capital and reserves. The offer is subjected to approval from the share holders meeting held on March 3, 2020. The company fixed March 4, 2020, as the record date for the offer. The offer is valid till March 5, 2020. As of February 14, 2020, the company had 445,235,204 ordinary shares in issue.