Live Ventures Announces $10 Million Common Stock Repurchase Program
February 20 2018 - 8:00AM
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.
About Live Ventures
Live Ventures Incorporated, originally incorporated in 1968, 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. Through its subsidiary, Marquis Industries, the company
operates as a specialty, high-performance yarns manufacturer and
hard-surfaces re-seller. Marquis Industries, which is a top-10
high-end residential carpet manufacturer in the United States,
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. Through its
subsidiary Vintage Stock, an award-winning entertainment retailer,
the company sells new and preowned movies, classic and current
generation video games and systems, music on CD & LP,
collectible comics, books, toys, and more. Vintage Stock, through
its stores and website, ships product worldwide directly to the
customer’s doorstep. Through its subsidiary ApplianceSmart, the
company sells new major household appliances in the United States
through a chain of 17 company-owned retail stores operating under
the name ApplianceSmart®.
Forward-Looking and Cautionary Statements This
press release contains "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 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 Annual Report on
Form 10-K, as amended, for the fiscal year ended September 30, 2017
(available at http://www.sec.gov). Live Ventures 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://live-ventures.com Source: Live Ventures
Incorporated
Live Ventures (NASDAQ:LIVE)
Historical Stock Chart
From Aug 2024 to Sep 2024
Live Ventures (NASDAQ:LIVE)
Historical Stock Chart
From Sep 2023 to Sep 2024