SunLink Health Systems, Inc. Announces Amendment to Its Share Repurchase Program
December 13 2018 - 9:20AM
Business Wire
SunLink Health Systems, Inc. (NYSE AMERICAN: SSY) today
announced that, having purchased all the 300,000 shares authorized
under its share repurchase program announced November 29, 2018, its
Board of Directors has approved a modification to the share
repurchase program that authorizes the Company to purchase up to an
additional 450,000 shares of its common stock or approximately 6%
of its currently outstanding shares.
Under the modified share repurchase program, the Company may
repurchase up to an additional 450,000 shares in open market and
privately negotiated transactions and block trades in accordance
with applicable securities laws and regulations. The extent to
which the Company repurchases additional shares, and the timing of
such repurchases, will depend upon a number of factors, including
business and market conditions, regulatory requirements and other
corporate considerations determined by the Company’s management.
There is no assurance as to the exact number of shares, if any,
that will be repurchased by the Company. The share repurchase
program does not have an expiration date and may be modified,
terminated or extended by the Company without prior notice.
The Company expects to fund any additional repurchases with cash
on hand or from future cash flow.
SunLink Health Systems, Inc. is the parent company of
subsidiaries that own and operate healthcare businesses in the
Southeast. Each of the Company’s healthcare businesses is operated
locally with a strategy of linking patients’ needs with healthcare
professionals. For additional information on SunLink Health
Systems, Inc., please visit the Company’s website.
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 including, without limitation, statements regarding the
company’s business strategy. These forward-looking statements are
subject to certain risks, uncertainties and other factors, which
could cause actual results, performance and achievements to differ
materially from those anticipated. Certain of those risks,
uncertainties and other factors are disclosed in more detail in the
company’s Annual Report on Form 10-K for the year ended June 30,
2018 and other filings with the Securities and Exchange Commission
which can be located at www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20181213005428/en/
Robert M. Thornton, Jr.Chief Executive
Officer(770) 933-7004
Sunlink Health Systems (AMEX:SSY)
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