Ballantyne Strong's board approves share buy back of up to USD8m.
M2 EQUITYBITES-December 23, 2011-Ballantyne Strong's board approves share buy back of up to USD8m(C)2011 M2 COMMUNICATIONS http://www.m2.com
Ballantyne Strong Inc (NYSE Amex:BTN), a provider of digital cinema products and services, reported on Thursday that its board of directors has approved the repurchase of up to USD8m of its outstanding common stock.
This represents approximately 15.2% of the company's market capitalisation, based on current market prices.
Repurchases will be made pursuant to a plan adopted under Rule 10b5-1 of the Securities Exchange Act of 1934, which allows a company to buy back its shares when otherwise it might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Dec 23, 2011|
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