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Destiny Media Renews Share Repurchase Program
By: PR Newswire
Dec. 10, 2012 12:05 AM
VANCOUVER, Dec. 10, 2012 /PRNewswire/ - Destiny Media Technologies (TSXV: DSY) (OTCQX: DSNY) is pleased to announce a new share repurchase program.
The board of directors has authorized a program to repurchase up to 1 million shares of the company's common stock at a maximum share purchase price of $1.00 per share. The repurchases will be at times and in amounts as the company deems appropriate and will be made through open market transactions on US exchanges. All repurchases will be made in compliance with the Securities and Exchange Commission's Rule 10b-18, subject to market conditions, applicable legal requirements and other factors. The board approved stock repurchase program runs through May 31st, 2013. In addition to the applicable securities laws, the company will not make any purchases during a time at which its insiders are subject to a blackout from trading in the company's common shares.
Under the previous plan, which expired June 30th, 2012, the company repurchased and canceled a total of 2,155,895 shares.
About Destiny Media Technologies, Inc.
SOURCE Destiny Media Technologies, Inc.
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