Mannatech Announces Share Repurchase Program
September 21 2021 - 5:00AM
Business Wire
Mannatech, Incorporated (NASDAQ: MTEX), (“Mannatech”),
today announced that its Board of Directors has approved a share
repurchase program to acquire up to $1.0 million of its outstanding
common stock. The authorized repurchases will be made from time to
time in the open market, through block trades or in privately
negotiated transactions. The timing, volume and nature of share
repurchases will be at the discretion of management and dependent
on market conditions, applicable securities laws and other factors,
and may be suspended or discontinued at any time. No assurance can
be given that any particular amount of common stock will be
repurchased. All or part of the repurchases may be implemented
under a Rule 10b5-1 trading plan, which would allow repurchases
under pre-set terms at times when Mannatech might otherwise be
prevented from doing so under insider trading laws or because of
self-imposed blackout periods. This repurchase program begins on
September 21, 2021 and ends on the earlier of (i) September 21,
2022 and (ii) the purchase of common stock having an aggregate
purchase price of $1.0 million, and may be modified, extended or
terminated by the Board of Directors at any time. Mannatech intends
to finance the repurchases with available cash.
About Mannatech
Mannatech is committed to transforming lives through the
development of high quality integrated health, weight management,
fitness and skin care products distributed through its global
network of independent associates and members. With more than 25
years of experience and operations in 25 markets^, Mannatech is
committed to changing lives. For more information, visit
Mannatech.com.
^ Mannatech operates in China under a cross-border e-commerce
platform that is separate from its network marketing model.
Please Note: This release contains “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as
amended, and the Private Securities Litigation Reform Act of 1995.
These forward-looking statements generally can be identified by use
of phrases or terminology such as “may,” “will,” “should,” "hope,"
“could,” “would,” “expects,” “plans,” “intends,” “anticipates,”
“believes,” “estimates,” “approximates,” “predicts,” “projects,”
“potential,” and “continues” or other similar words or the negative
of such terminology. Similarly, descriptions of Mannatech’s
objectives, strategies, plans, goals or targets contained herein
are also considered forward-looking statements. Mannatech believes
this release should be read in conjunction with all of its filings
with the United States Securities and Exchange Commission and
cautions its readers that these forward-looking statements are
subject to certain events, risks, uncertainties, and other factors.
Some of these factors include, among others, the impact of the
outbreak of the novel coronavirus ("COVID-19") pandemic,
Mannatech’s inability to attract and retain associates and members,
increases in competition, litigation, regulatory changes, and its
planned growth into new international markets. Although Mannatech
believes that the expectations, statements, and assumptions
reflected in these forward-looking statements are reasonable, it
cautions readers to always consider all of the risk factors and any
other cautionary statements carefully in evaluating each
forward-looking statement in this release, as well as those set
forth in its latest Annual Report on Form 10-K and Quarterly Report
on Form 10-Q,, and other filings filed with the United States
Securities and Exchange Commission, including its current reports
on Form 8-K. All of the forward-looking statements contained herein
speak only as of the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210921005254/en/
MEDIA CONTACT Donna Giordano Manager, Executive Office
Administration 972-471-6512 ir@mannatech.com
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