CTG Announces Extension of 10b5-1 Plan to Facilitate Share Repurchases
April 07 2010 - 1:00PM
Business Wire
CTG (NASDAQ: CTGX), an international information technology (IT)
solutions and services company, today announced that it extended a
stock repurchase plan under Rule 10b5-1 of the Securities and
Exchange Commission (the "Company 10b5-1 Plan") to facilitate the
repurchase of its common stock. The Company has approximately
420,000 shares available for repurchase as of April 7, 2010, under
its outstanding repurchase authorizations.
“We are again extending our 10b5-1 plan as it gives us the
ability to repurchase shares during our self-imposed blackout
periods prior to the announcement of quarterly results,” said CTG
Chairman and Chief Executive Officer James R. Boldt.
The plan is effective from April 8, 2010, until the day
following the Company’s release of its 2010 first quarter financial
results. CTG’s 10b5-1 plan allows for the repurchase of shares
during the time following the close of a quarter and the
announcement of quarterly financial results when the Company’s
stock repurchase policy does not allow for the direct purchase of
shares by the Company. Repurchases are subject to SEC regulations
as well as certain price, market, volume, and timing constraints
specified in the plan. The plan does not require that any shares be
purchased.
Backed by over 40 years’ experience, CTG provides IT solutions
and services to help our clients use technology as a competitive
advantage to excel in their markets. CTG combines in-depth
understanding of our clients’ businesses with a full range of
integrated offerings, best practices, and proprietary methodologies
supported by an ISO 9001-certified management system. Our IT
professionals based in an international network of offices in North
America and Europe have a proven track record of delivering
high-value, industry-specific solutions. CTG serves companies in
several industries and is a leading provider of IT and business
consulting solutions to the healthcare market. CTG posts news and
other important information on the Web at www.ctg.com.
This document contains certain forward-looking statements
concerning the Company’s current expectations as to future growth.
These statements are based upon a review of industry reports,
current business conditions in the areas where the Company does
business, the availability of qualified professional staff, the
demand for the Company’s services, and other factors that involve
risk and uncertainty. As such, actual results may differ materially
in response to a change in such factors. Such forward-looking
statements should be read in conjunction with the Company’s
disclosures set forth in the Company’s 2009 Form 10-K, which is
incorporated by reference. The Company assumes no obligation to
update the forward-looking information contained in this
release.
Today’s news release, along with CTG news releases for the past
year, is available on the Web at www.ctg.com.
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