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  • Tucows Announces $10 Million Stock Buyback Program

1st March 2013

Tucows Announces $10 Million Stock Buyback Program

tucowsTucows Inc. (NYSE AMEX:TCX, TSX:TC) has announced that its Board of Directors has approved a stock buyback program (the “Share Repurchase”) to repurchase from time to time up to $10 million of its common stock in the open market through the facilities of the NYSE AMEX Stock Exchange. The Share Repurchase will commence immediately and will terminate on February 28, 2014. All shares purchased by Tucows under the stock buyback program will be retired and returned to treasury.

The timing and exact number of common shares purchased will be at Tucows’ discretion and will depend on available cash and market conditions.  Tucows may suspend or discontinue the repurchases at any time, including in the event Tucows would be deemed to be making an acquisition of its own shares under Rule 13e-3 of the Securities Exchange Act of 1934, as amended. Subject to applicable securities laws and stock exchange rules, all purchases will occur through the open market and may be in large block purchases. Tucows does not intend to purchase its shares from its management team or other insiders.

The purchase will be funded from available working capital and existing credit facilities. As of February 28, 2013, Tucows had 40 million common shares outstanding.

During Tucows’ previous stock buyback program, which ended on November 14, 2012, Tucows repurchased and retired 2.4 million common shares. In addition, on January 4, 2013, Tucows concluded its previously announced modified “Dutch auction” tender offer in which it repurchased and retired 4.1 million common shares.

NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

This entry was posted on Friday, March 1st, 2013 at 10:52 am and is filed under Business News, National News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
  1. Tami Quiring (@VillageGamer)
    2:53 am on March 1st, 2013

    .@Tucows Announces $10 Million Stock Buyback Program http://t.co/R4iQu9cxLp

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