Emerson Radio Corp. Authorizes Stock Repurchases
December 19 2016 - 9:14AM
Business Wire
Emerson Radio Corp. (NYSE MKT:MSN) today announced that its
Board of Directors has approved the repurchase of up to $5 million
of its common stock. The repurchases may be effected from time to
time at prevailing market prices, through open market or in
privately negotiated transactions, which may include, in whole or
in part, the establishment of a purchase program pursuant to the
safe harbor provided by Rule 10b5-1 under the Securities Exchange
Act of 1934, through block purchases or through accelerated or
forward or similar stock purchases. The Company intends to run the
repurchase program through the end of the current fiscal year,
unless the period is extended or shortened by the Board of
Directors. Under the program, repurchases will be funded from
available working capital and any repurchased shares will be held
as authorized but unissued shares and will be available for general
corporate purposes.
About Emerson Radio Corp
Emerson Radio Corp. (NYSE MKT:MSN), incorporated in 1994, is
headquartered in Hackensack, N.J. The Company designs, sources,
imports and markets a variety of houseware and consumer electronic
products, and licenses its trademarks to others on a worldwide
basis for a variety of products. For more information, please visit
Emerson Radio’s web site at www.emersonradio.com.
Forward Looking Statements
This news release may contain certain “forward-looking
statements” within the meaning of Section 27A of the Securities
Exchange Act of 1934, as amended, that represent the Company’s
expectations or beliefs concerning further events. Such
forward-looking statements are inherently subject to risks and
uncertainties. Such risks and uncertainties include the
continuation of sufficient liquidity to complete stock repurchases,
stock price levels and volatility, alternative uses of funds, the
absence of unforeseen changes in the Company’s markets, legal and
regulatory changes and general changes in the economy. Because of
the risks and uncertainties inherent in forward-looking statements,
readers are cautioned not to place undue reliance on them. The
Company disclaims any obligation to update such forward-looking
statements because of new information or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20161219005777/en/
Investor RelationsEmerson Radio
Corp.Barry Smith, 973-428-2004Investor Relations Manager
Emerson Radio (AMEX:MSN)
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