Monster Beverage Board Authorizes New $250 Million Share Repurchase Program
March 01 2018 - 2:30PM
Monster Beverage Corporation (NASDAQ:MNST) today announced that its
Board of Directors has authorized a new share repurchase program
for the repurchase of up to $250 million of the Company’s
outstanding common stock. As $250 million remains available for
grant under the Company’s prior repurchase plan, the aggregate
amount available to repurchase the Company’s common stock is
currently $500 million. The Company expects the share repurchases
to be made from time to time in the open market or through
privately negotiated transactions, or otherwise, subject to
applicable laws, regulations and approvals. The timing of the share
repurchases will depend on a variety of factors, including market
conditions, and share repurchases may be suspended or discontinued
at any time.
Monster Beverage Corporation
Based in Corona, California, Monster Beverage Corporation is a
holding company and conducts no operating business except through
its consolidated subsidiaries. The Company’s subsidiaries
develop and market energy drinks, including Monster Energy® energy
drinks, Monster Energy Ultra® energy drinks, Monster Energy Extra
Strength Nitrous Technology® energy drinks, Java Monster®
non-carbonated coffee + energy drinks, Espresso Monster™ espresso +
energy drinks, Caffé Monster™ energy coffee non-carbonated drinks,
Monster Rehab® non-carbonated energy drinks with electrolytes,
Muscle Monster® energy shakes, Übermonster® energy drinks, Monster
Hydro® energy drinks, NOS® energy drinks, Full Throttle® energy
drinks, Burn® energy drinks, Samurai® energy drinks, Relentless®
energy drinks, Mother® energy drinks, Power Play® energy drinks,
BU® energy drinks, Nalu® energy drinks, BPM® energy drinks,
Gladiator® energy drinks, and Ultra Energy® energy drinks.
The Company’s subsidiaries also develop and market Mutant® Super
Soda drinks. For more information, visit
www.monsterbevcorp.com.
Forward-Looking Statements
Certain statements made in this announcement may constitute
“forward-looking statements” within the meaning of the U.S. federal
securities laws. The Company cautions that these statements are
based on management’s current knowledge and expectations and are
subject to certain risks and uncertainties, many of which are
outside of the control of the Company, that could cause actual
results and events to differ materially from the statements made
herein. For a more detailed discussion of the risks that could
affect our operating results, see our filings with the Securities
and Exchange Commission, including our annual report on
Form 10-K and our subsequently filed quarterly reports on
Form 10-Q. The Company’s actual results could differ
materially from those contained in the forward-looking statements,
including with respect to the repurchase program. The Company
assumes no obligation to update any forward-looking statements,
whether as a result of new information, future events or
otherwise.
CONTACTS:
Rodney C. SacksChairman and Chief Executive Officer(951)
739-6200 Hilton H. SchlosbergVice Chairman(951) 739-6200 Roger S.
Pondel / Judy Lin SfetcuPondelWilkinson Inc.(310) 279-5980
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