JMP Group Announces 2018 Share Repurchase Program
December 13 2017 - 4:15PM
Business Wire
JMP Group LLC (NYSE: JMP), an investment banking and alternative
asset management firm, announced today that its board of directors
has authorized the repurchase of up to one million of the company’s
outstanding common shares during 2018.
As of the close of the market on December 12, 2017, 631,844 of
the company’s common shares were eligible for repurchase through
year-end under the board’s previous authorization. After December
31, 2017, any shares not repurchased under that authorization will
no longer be eligible for repurchase, and the new, 2018
authorization announced herein will take effect.
Under the 2018 share repurchase program, the company may
purchase its common shares from time to time in the open market or
through privately negotiated transactions. The timing, volume and
nature of any common share repurchases will be at the sole
discretion of management, will be dependent on market conditions,
applicable securities laws and other factors, and may be suspended
or discontinued at any time.
Since its initial public offering in May 2007, the company,
together with its predecessor, JMP Group Inc., has repurchased a
total of approximately 6.9 million common shares at an aggregate
cost of approximately $44.4 million. JMP Group Inc. became a wholly
owned subsidiary of JMP Group LLC as a result of a corporate
reorganization in January 2015.
About JMP Group
JMP Group LLC is a diversified capital markets firm that
provides investment banking, equity research, and sales and trading
services to corporate and institutional clients as well as
alternative asset management products and services to institutional
and high-net-worth investors. JMP Group conducts its investment
banking and research, sales and trading activities through JMP
Securities; its hedge fund, venture and private capital, and credit
management activities though Harvest Capital Strategies, JMP Asset
Management and JMP Credit Advisors; and the management of Harvest
Capital Credit Corporation (NASDAQ: HCAP), a business development
company, through HCAP Advisors. For more information, visit
www.jmpg.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20171213005609/en/
Investor Relations ContactJMP Group LLCAndrew Palmer,
415-835-8978apalmer@jmpg.comorMedia Relations ContactsDukas
Linden Public Relations, Inc.Ben Jaffe,
212-704-7385ben@dlpr.comorZach Leibowitz,
212-704-7385zach@dlpr.com
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