TransAct Board authorizes up to 1 million share common stock repurchase
The Board has also authorized the company to purchase up to one million shares of TransAct common stock as part of a new 10b5-1 plan.
Under the Plan, the company expects to repurchase outstanding shares of common stock from time to time on the open market through 2012, depending on market conditions, share price and other factors.
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 the timing of such repurchases, or that there will be any repurchases pursuant to the Plan. The company may terminate the plan at any time.
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