Bottomline Announces Stock Repurchase Program
August 05 2019 - 8:00AM
Bottomline Technologies (NASDAQ:EPAY), a leading provider of
financial technology that helps make business payments simple,
smart and secure, today announced that its Board of Directors has
authorized a share repurchase program of up to $50 million. The
first $10 million is targeted to be completed by September 30,
2019.
“We have a high degree of confidence in our ability to
accelerate our subscription and transaction revenue growth rate
over the coming fiscal year,” said Rob Eberle, CEO of Bottomline
Technologies. “Repurchasing shares reflects our confidence in
Bottomline’s strategy and growth prospects.”
“We believe our stock is an attractive investment opportunity at
current levels,” said Rick Booth, Chief Financial Officer. “Our
strong balance sheet and predictable cash flow allows us to
repurchase shares while continuing to invest in opportunities that
will drive long-term growth.”
Stock repurchases may be executed pursuant to trading plans
established pursuant to Rule 10b5-1 under the Securities Exchange
Act of 1934 and through various means, including, without
limitation, open market transactions, privately negotiated
transactions or tender offers. The Stock Repurchase Program does
not obligate the Company to purchase any shares. The authorization
for the Stock Repurchase Program may be terminated, increased or
decreased by the Company’s Board of Directors at any time.
About Bottomline Technologies Bottomline
Technologies (NASDAQ: EPAY) helps make complex business payments
simple, smart, and secure. Corporations and banks rely on
Bottomline for domestic and international payments, efficient cash
management, automated workflows for payment processing and bill
review, and state of the art fraud detection, behavioral analytics
and regulatory compliance solutions. Thousands of corporations
around the world benefit from Bottomline solutions. Headquartered
in Portsmouth, NH, Bottomline delights customers through offices
across the U.S., Europe, and Asia-Pacific. For more information,
visit www.bottomline.com. Media Contacts Bottomline
TechnologiesRichard BoothChief Financial Officer
603-501-6270 rbooth@bottomline.com
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