Wednesday, March 08, 2017 9:38:26 AM
RICHARDSON, TX--(Marketwired - March 02, 2017) - Optex Systems Holdings, Inc. (OPXS), a leading manufacturer of precision optical sighting systems for domestic and worldwide military and commercial applications, today announced that its Board of Directors has approved a share repurchase program of the Company's common stock. In addition, the independent directors shall constitute a board level committee that shall be authorized to approve the buy back of up to 1 million shares of the Company's common stock over the next 24 months from time to time at the request of management.
Danny Schoening, Optex's CEO, commented, "We have recently announced several significant contracts both domestic and worldwide, demonstrating the strength of our business model and the success of our geographic and product expansion. This share repurchase program reflects our commitment to maximizing shareholder returns through a disciplined approach of thoughtful capital allocation and support of our capital structure."
This press release does not constitute an offer to purchase securities and any stock repurchases shall be made on the open market, subject to strict compliance with all applicable federal and state laws and regulations, and during appropriate trading windows approved by the Board of Directors and Company counsel.
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