World Careers Network plc (AIM:WOR) commences share repurchases on February 15, 2017 under the program mandated by the shareholders in the Annual General Meeting held on December 19, 2016. As per the mandate, the company will repurchase up to 1,134,000 shares, representing 15% of its issued ordinary share capital for £0.05 million. The maximum price payable for an ordinary share on the exchange is an amount equal to the higher of 105% of the average market value of the company's ordinary shares as derived from the London Stock Exchange Daily Official List for the five business days immediately preceding the day on which such share is contracted to be purchased. The company would not purchase the shares at a price higher than the higher of the price of the last independent trade and the highest current independent purchase bid on the trading venue where the purchase is carried out. The shares will be repurchased on the market. Due to the limited liquidity in the ordinary shares, the buyback of ordinary shares on any trading day is likely to represent a significant proportion, or possibly all, of the daily trading volume in the ordinary shares on the London Stock Exchange and is likely to exceed the 25% limit of the average daily trading volume as laid down in Article 5(1) of Regulation (EU) No 596/2014 and as such the company will not benefit from the exemption. The program shall expire at the conclusion of the next Annual General Meeting or 18 months from the date of the resolution, whichever is the earlier.