TSYS Board Approves Share Repurchase Plan.COLUMBUS, Ga. -- TSYS TSYS Total System Services, Inc. today announced that its Board of Directors has approved a share repurchase plan share repurchase plan A corporation's plan for buying back a predetermined number of its own shares in the open market. Institution of a share repurchase plan derives from management's view that the company has limited outside investment opportunities and to purchase up to 2 million shares, which represents slightly more than 5 percent of TSYS stock owned by shareholders other than Synovus Financial Corp. This equates to approximately $40 million of TSYS stock based on current market prices. The shares will be purchased from time to time over the next two years at prices considered attractive to management. Repurchased shares will be used for general corporate purposes. About TSYS TSYS (www.tsys.com) is one of the world's largest companies for outsourced payment services, offering a broad range of issuer and acquirer processing technologies that support consumer finance, credit, debit and prepaid services for financial institutions and retail companies in North America, Europe and the Asia Pacific. Based in Columbus, Ga., TSYS (NYSE NYSE See: New York Stock Exchange : TSS See ITU. ) is 80 percent held by Synovus Financial Corp. (NYSE: SNV SNV Synovus Financial Corp. (stock symbol) SNV Schweizerische Normenvereinigung (Swiss standards body) SNV Stichting Nederlandse Vrijwilligers (Netherlands Development Organization) ), one of FORTUNE magazine's "Most Admired Companies" and a member of its "100 Best Companies to Work For" Hall of Fame. For more information, contact news@tsys.com. |
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