Pivot Technology Solutions Implements a Normal Course Issuer Bid
SAN DIEGO, CA, March 30, 2016 /CNW/ - Pivot Technology Solutions, Inc. ("Pivot" or the "Company") (TSX-V: PTG) today announced that Pivot's Board has resolved to implement the Company's previously-announced normal course issuer bid ("NCIB"). The NCIB will allow Pivot to repurchase up to 5% of the Company's issued and outstanding common shares, calculated in accordance with TSX-V regulations over a twelve month period commencing on or about April 1, 2016. Implementation of the NCIB is subject to approval by the TSX-V.
"The commencement of the NCIB is reflective of our confidence in the business," stated Warren Barnes, CEO of Pivot. "We believe that repurchasing our shares is an effective use of the Company's excess cash, and will leverage our ability to drive earnings per share going forward."
About Pivot Technology Solutions, Inc.
Together with its portfolio companies and partners, Pivot delivers solutions that enable organizations to design, build, implement and maintain computing and communication infrastructure that addresses their unique business needs. Pivot's approach supports improvement of business performance, helps organizations reduce capital and operating expenses, and accelerates the delivery of new products and services to end-customers. With over 2,000 clients, many of whom are Fortune 1,000 companies, Pivot extends its value added solutions to help organizations of all sizes improve operating efficiency, reduce complexity and enhance service delivery through virtualization and cloud computing. Pivot enables businesses to extend their enterprise through mobility solutions to better connect business partners and customers. Pivot has offices throughout North America and can be found online at www.pivotts.com.
