CCUR Holdings, Inc. Receives NASDAQ Listing Extension; Approves Share Repurchase Program
The Company also announced today that its Board of Directors approved a stock repurchase program that will enable the Company to repurchase up to one million shares of its common stock. Repurchases will be made at the discretion of management through open market or privately negotiated transactions or any combination of the same. The extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, regulatory requirements and other corporate considerations, as determined by the Company’s management team. Open market purchases may be made pursuant to trading plans subject to the restrictions and protections of Rule 10b5-1 and/or Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The stock repurchase program will be financed through use of the Company’s cash and cash equivalents and will continue indefinitely until the authorized number of shares have been repurchased or the program is suspended or terminated by the Board of Directors. In its most recently filed Form 10-Q, the Company reported
Forward Looking Statements
Certain statements in this communication and the documents referenced herein constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by words such as “anticipate,” “believe,” “intend,” “estimate,” “expect,” “see,” “continue,” “could,” “can,” “may,” “will,” “likely,” “depend,” “should,” “would,” “plan,” “predict,” “target,” and similar expressions, and may include references to assumptions and relate to the Company’s future prospects, developments and business strategies. Except for the historical information contained herein, the matters discussed in this communication may contain forward-looking statements that involve risks and uncertainties that may cause the Company’s actual results to be materially different from such forward-looking statements and could materially adversely affect its business, financial condition, operating results and cash flows. These risks and uncertainties include any change in or review of the Nasdaq’s decision to grant the Company an extention from delisting; the Company’s ability to satisfy the concerns raised by the Nasdaq during the extension period; the occurrence of any event, change or other circumstances that could affect the ability of the Company to invest or acquire an operating business or otherwise maximize the Company’s assets; the Company’s ability to compete with experienced investors in the acquisition of one or more businesses; general business conditions; changes in overall economic conditions; the Company’s ability to utilize net operating losses to offset cash taxes in the event of an ownership change as defined by the
Source: CCUR Holdings, Inc.