Cemtrex Announces Share Repurchase Authorization
Marks first share buyback program in the Company’s history
Farmingdale, June 22, 2016 -- Cemtrex Inc. (CETX), a world leading industrial and manufacturing solutions company, 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 one million of its outstanding shares over the next twelve months, depending on market conditions.
Under the stock repurchase program, Cemtrex may repurchase shares in open-market purchases in accordance with all applicable securities laws and regulations. The extent to which Cemtrex repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, regulatory requirements and other corporate considerations, as determined by Cemtrex’s management team. The repurchase program may be suspended or discontinued at any time.
- Published: 22 June 2016
- Written by Editor