Bluegreen Vacations Corporation’s Board Approves Share Repurchase Program
November 27 2018 - 10:18AM
BBX Capital Corporation (NYSE: BBX) (OTCQX: BBXTB) ("BBX
Capital"), announced that Bluegreen Vacations
Corporation (NYSE: BXG), which is 90% owned by BBX Capital,
issued the following press release. Please see the Bluegreen
press release below.
BBX Capital Corporation Investor Relations
Contact:Leo Hinkley, Managing Director, Investor Relations
OfficerPhone: 954-940-5300 Email: LHinkley@BBXCapital.com
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Bluegreen Vacations Corporation’s
Board Approves Share Repurchase
Program
BOCA RATON, FL – Bluegreen Vacations Corporation
(NYSE: BXG) (“Bluegreen” or “the Company”) announced that its Board
of Directors has approved a share repurchase program, which
authorizes the repurchase of a total of up to 3,000,000 shares of
the Company’s Common Stock at an aggregate cost of no more than $35
million. The program authorizes the Company, in management’s
discretion, to repurchase shares from time to time subject to
market conditions and other factors.
About Bluegreen Vacations
Corporation:
Bluegreen Vacations Corporation (NYSE: BXG) is a
leading vacation ownership company that markets and sells vacation
ownership interests (VOIs) and manages resorts in top leisure and
urban destinations. The Bluegreen Vacation Club is a flexible,
points-based, deeded vacation ownership plan with approximately
216,000 owners, 69 Club and Club Associate Resorts and access to
more than 11,100 other hotels and resorts through partnerships and
exchange networks as of September 30, 2018. Bluegreen Vacations
also offers a portfolio of comprehensive, fee-based resort
management, financial, and sales and marketing services, to or on
behalf of third parties. Bluegreen is 90% owned by BBX Capital
Corporation (NYSE: BBX) (OTCQX: BBXTB), a diversified holding
company. For further information,
visit www.BluegreenVacations.com.
About BBX Capital
Corporation:
BBX Capital Corporation (NYSE: BBX) (OTCQX:
BBXTB), is a Florida-based diversified holding company whose
activities include its 90% ownership interest in Bluegreen
Vacations Corporation (NYSE: BXG) as well as its real estate and
middle market divisions. For additional information, please visit
www.BBXCapital.com. This press release contains forward-looking
statements based on current expectations that involve a number of
risks and uncertainties. All opinions, forecasts, projections,
future plans or other statements, other than statements of
historical fact, are forward-looking statements. The forward
looking statements in this press release are also forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended (the "Securities Act"), and Section 21E of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"),
and involve substantial risks and uncertainties, including,
but not limited to, the amount of shares, if any, which may be
repurchased by the Company in the future, the value
of any shares repurchased by the Company, the timing
of any share repurchases, and the availability
of funds for the repurchase of shares. In addition to the
risks and factors identified above, reference is also made to other
risks and factors detailed in reports filed by the Company with the
Securities and Exchange Commission, including the
Company’s Quarterly Report on Form 10-Q for the quarter ended
September 30, 2018 and Annual Report on Form 10-K for the year
ended December 31, 2017, which may be viewed on the SEC's website,
www.sec.gov. and on Bluegreen’s website,
www.bluegreenvacations.com.
Bluegreen Vacations Media
Contact:Nikki Sacks, 203-682-8263Evelyn Infurna,
203-682-8265 Email: bluegreenvac@icrinc.com
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