Live Ventures Discloses Open-Market Purchase of 79,000 Shares Under Stock Repurchase Program
August 02 2017 - 8:30AM
Live Ventures Incorporated, (Nasdaq:LIVE), (the “Company”), a
diversified holding company, today confirms that it has been
actively repurchasing stock on the open market under its stock
repurchase program resulting in the accumulation of approximately
79,000 shares since inception of the program through July 2017.
These shares represent approximately four percent of the
total common shares of Live Ventures. The shares were purchased at
an average price of $10.27 per share.
“Management and long term stockholders are thankful and applaud
the opportunity to repurchase shares of our company at what we
strongly believe is a significant discount to the company’s
intrinsic value,” said Jon Isaac, CEO of Live Ventures. “We
believe these purchases are, by far, the best use of our
stockholders’ money at this time.”
In addition to the approximately 79,000 shares repurchased under
the stock repurchase program, Mr. Isaac, and Director, Dennis Gao
have personally acquired 62,248 shares and 12,650 shares,
respectively. In the meantime, the company will continue to
aggressively repurchase shares as opportunity in the market
arises.
About Live Ventures Incorporated Live Ventures
Incorporated is a diversified holding company with several wholly
owned subsidiaries and a strategic focus on acquiring profitable
companies that have demonstrated a strong history of earnings
power. Live Ventures Incorporated provides, among other
businesses, marketing solutions that boost customer awareness and
merchant visibility on the Internet. The Company operates a
deal engine, which is a service that connects merchants and
consumers via an innovative platform that uses geo-location,
enabling businesses to communicate real-time and instant offers to
nearby consumers. In addition, it maintains, through its
subsidiary, ModernEveryday, an online consumer products retailer
and, through its subsidiary, Marquis Industries, a specialty,
high-performance yarns manufacturer, hard-surfaces re-seller, which
is a top-10 high-end residential carpet manufacturer in the United
States. Marquis Industries, through its A-O Division,
utilizes its state-of-the-art yarn extrusion capacity to market
monofilament textured yarn products to the artificial turf
industry. Marquis is the only manufacturer in the world that
can produce certain types of yarn prized by the industry.
Most recently, the company acquired Vintage Stock, Inc., an
award-winning entertainment company featuring movies, classic
and new video games, music, collectible comics and toys, and the
ability to special order and ship product worldwide to the
customer’s doorstep. Vintage Stock is America’s largest
entertainment superstore chain.
Forward-Looking and Cautionary StatementsThis
press release may contain "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of
1995. In accordance with the safe harbor provisions of
this Act, statements contained herein that look forward in time
that include everything other than historical information, involve
risks and uncertainties that may affect the Company’s actual
results. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar
statements. Live Ventures Incorporated may also make written
or oral forward-looking statements in its periodic reports to the
U.S. Securities and Exchange Commission on Forms 10-K, 10-Q and
8-K, in its annual report to stockholders, in press releases and
other written materials and in oral statements made by its
officers, directors or employees to third parties. There can be no
assurance that such statements will prove to be accurate and there
are a number of important factors that could cause actual results
to differ materially from those expressed in any forward-looking
statements made by the Company, including, but not limited
to, plans and objectives of management for future operations
or products, the market acceptance or future success of our
products, and our future financial performance. The
Company cautions that these forward-looking statements are further
qualified by other factors including, but not limited to, those set
forth in the Company’s Form 10-K for the fiscal year ended
September 30, 2016, most recent Form 10-Q, and other filings with
the U S. Securities and Exchange Commission (available
at http://www.sec.gov). The Company undertakes no obligation
to publicly update or revise any statements in this release,
whether as a result of new information, future events, or
otherwise.
Contact:
Live Ventures Incorporated
Tim Matula, investor relations
425-836-9035
tmatula@live-ventures.com
http://www.live-ventures.com
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