Live Ventures Announces $10 Million Common Stock Repurchase Program
8:01 am ET February 20, 2018 (Globe Newswire)
Live Ventures Incorporated (Nasdaq:LIVE), a diversified holding company, today announced that its Board of Directors has approved a new stock repurchase program that will enable the Company to repurchase up to $10 million of its common stock over the next three years. Live Ventures' previous stock repurchase program expired last month.
"Management believes that the program is designed to strengthen the company's long-term financial structure by capitalizing on the current undervaluation of its stock in the open market," said Jon Isaac, Live Ventures' President and Chief Executive Officer.
Under the new stock repurchase program, Live Ventures may purchase shares of its common stock through various means, in open market transactions, including through block purchases, through privately negotiated transactions, or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, which would permit common stock to be repurchased at a time that Live Ventures might otherwise be precluded from doing so under insider trading laws or self-imposed trading restrictions. The number of shares repurchased and the timing, manner, price and amount of any repurchases will be determined in the Company's discretion and subject to a number of factors, including, but not limited to, stock price, trading volume and general market conditions, along with Live Ventures' general business conditions and other factors. The program may be suspended or discontinued at any time and the program does not obligate the company to acquire any specific number of shares of its common stock.
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