$GEIN Announces New Share Repurchase Program Feb
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Posted On: 02/28/2020 2:58:37 PM
$GEIN Announces New Share Repurchase Program Feb 26, 2020
TheNewswire - February 26, 2020 - Genesys Industries, Inc GEIN, -72.49% (otcmkts:GEIN) $GEIN - a diversified precision products manufacturer announced today that its Board of Directors has approved a new share repurchase authorization for the Company's common stock, under which the Company may repurchase up to 500,000 of its outstanding common shares GEIN, over the next 12 months, depending on market conditions.
Under the stock repurchase program, the Company intends to repurchase shares through open market purchases, privately-negotiated transactions, block purchases or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 of the Exchange Act.
Company Spokesperson commented, "Our decision to initiate a new share repurchase program was based on recent volatility, retained earnings, capital position as well as the underlying value of our common stock at this time. We continue to believe a share repurchase program represents an appropriate way to utilize retained earnings and is a continuation of our long-term strategy to drive long term growth."
TheNewswire - February 26, 2020 - Genesys Industries, Inc GEIN, -72.49% (otcmkts:GEIN) $GEIN - a diversified precision products manufacturer announced today that its Board of Directors has approved a new share repurchase authorization for the Company's common stock, under which the Company may repurchase up to 500,000 of its outstanding common shares GEIN, over the next 12 months, depending on market conditions.
Under the stock repurchase program, the Company intends to repurchase shares through open market purchases, privately-negotiated transactions, block purchases or otherwise in accordance with applicable federal securities laws, including Rule 10b-18 of the Exchange Act.
Company Spokesperson commented, "Our decision to initiate a new share repurchase program was based on recent volatility, retained earnings, capital position as well as the underlying value of our common stock at this time. We continue to believe a share repurchase program represents an appropriate way to utilize retained earnings and is a continuation of our long-term strategy to drive long term growth."
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