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| eLandia Announces Share Repurchase Program eLandia announces that its Board of Directors has authorized a share repurchase program of up to 3% of the company's outstanding Common Stock (or approximately 1,200,000 shares). The decision to authorize the program was based on market conditions, an attractive share value, and the company's current cash position, which was approximately $52 million as of September 30, 2008. The share repurchase program is expected to commence at management's discretion. Under the terms of the share repurchase program, the company will repurchase its common stock from time to time through private transactions or through open market transactions at prevailing market prices. It is anticipated that the share repurchase program, which is subject to market conditions, business opportunities and other factors, will be funded from general working capital and will terminate upon determination by the board of directors. Common stock purchased under the share repurchase program will be classified as treasury shares available for future issuance as determined by the board of directors. All purchases will be made in accordance with the requirements of the Securities and Exchange Commission and other applicable legal requirements. The repurchase program will not require eLandia to acquire a specific number of shares and may be suspended revised or discontinued at any time without prior notice. As of September 30, 2008, eLandia had 39,584,732 million shares outstanding. write your comments about the article :: © 2008 Computing News :: home page |