News Column

PC Connection Reports Share Repurchase Program

February 19, 2014

PC Connection announced that its board of directors approved a new share repurchase program authorizing up to $15 million in share repurchases.

In a release on Feb. 14, the Company said that there is no fixed termination date for this new repurchase program. Purchases may be made in open-market transactions, block transactions on or off an exchange, or in privately negotiated transactions.

PC Connection's board had previously authorized a share repurchase program under which the remaining authorized amount is approximately $2.8 million. The Company intends to complete this repurchase program before repurchasing shares under the new program.

The timing and amount of any shares repurchased will be determined by the company's management based on its evaluation of market conditions and other factors. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when PC Connection might otherwise be precluded from doing so under insider trading laws. The repurchase programs may be suspended or discontinued at any time. Any repurchased shares will be available for use in connection with PC Connection's stock plans and for other corporate purposes.

Payment for shares repurchased under the programs will be funded using the company's working capital.

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Source: Professional Services Close - Up


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