Monash Absolute Investment Company Limited (ASX:MA1) announces a share repurchase program. Under the offer, the company will repurchase up to 4,922,343 shares, representing 10% of its issued share capital. The shares will be repurchased at a price which is after 5% discount to the company’s pre tax net tangible assets per share as at 31 August 2018. The program is a capital management initiative and to provide existing shareholders a liquidity alternative to disposing off their shares on the Australian Stock Exchange. The record date for buyback is August 3, 2018. The program will run until September 7, 2018. As of July 13, 2018, the company has 49,223,436 shares in issue.