Sports Direct International said it will commence a buyback program for up to 29,923,243 shares, representing about 5 percent of its share capital, for an aggregate maximum outlay of £89,769,729 (€106,604,549-$118,030,796). Citigroup Global Markets will undertake the buyback in behalf of SDI until the annual general meeting of Sept. 7, when the board may seek shareholders' approval for further buybacks. . Then, this morning, SDI followed with an announcement that it had purchased 365,967 shares from Citigroup, acting as a broker, at a price of 285.2 pence a share. This raises the number of its treasury shares to 598,098,904.

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