Transact to purchase shares of common stock
Under the current repurchase program, TransAct is authorized to repurchase up to us$ 10 million of its outstanding shares of common stock from time to time on the open market until May 27, 2013, depending on market conditions, share price and other factors. As of September 30, 2011, approximately us$ 7.8 million remained authorized for future repurchases under this program.
A plan under Rule 10b5-1 allows a company to repurchase its shares at times when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. A broker selected by TransAct will have the authority under the terms and limitations specified in the Plan to repurchase shares on TransAct's behalf in accordance with the terms of the Plan.
Because the repurchases under the Plan are subject to certain pricing parameters, there is no guarantee as to the exact number of shares that will be repurchased under the Plan, or that there will be any repurchases pursuant to the Plan.
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