Cemtrex Announces Share Repurchase Authorization
January 16 2020 - 8:15AM
– Cemtrex Inc. (Nasdaq: CETX), a leading multi-industry
technology company that is driving innovation in a wide range of
consumer and commercial sectors, announced today that its Board of
Directors has approved a new share repurchase authorization for the
Company’s common stock, and series 1 preferred stock, under which
the Company may repurchase up to two million of its outstanding
shares of each class, over three years, depending on market
conditions.
Under the stock repurchase program, the Company intends to
repurchase shares through open market purchases,
privately-negotiated transactions, block purchases or otherwise in
accordance with applicable federal securities laws, including Rule
10b-18 of the Exchange Act.
About Cemtrex
Cemtrex, Inc. (NASDAQ; CETX) is the manufacturer of the
SmartDesk, the world’s most advanced workstation. Cemtrex is a
diversified technology company that is driving innovation in a wide
range of sectors, including smart technology, virtual and augmented
realities, advanced electronic systems, industrial solutions, and
intelligent security systems. www.cemtrex.com
About Cemtrex
Safe Harbor Statement This press release
contains forward-looking statements. Actual results could differ
materially from those projected in the forward-looking statements
as a result of a number of risks and uncertainties. Statements made
herein are as of the date of this press release and should not be
relied upon as of any subsequent date. This release may contain
Non-GAAP financial information and are not calculated or presented
in accordance with US GAAP. The Company believes that the
presentation of non-GAAP financial measures provides useful
information to management and investors regarding underlying trends
in its consolidated financial condition and results of operations.
The Company's management regularly uses these supplemental non-GAAP
financial measures internally to understand, manage and evaluate
the Company's business and make operating decisions.
For further information, please contact:
Investor Relations
Cemtrex, Inc.
Phone: 631-756-9116
investors@cemtrex.com
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