January 10, 2007 – (HOSTSEARCH.COM) – Tucows (http://www.tucows.com), a company that provides services to web hosting providers, has announced a stock buyback program. The company’s Board of Directors approved the program which will see up to $10 million worth of its common stock repurchased.
The number of shares and when the stock will be repurchased will has yet to be determined and is at the company's discretion. Market conditions will obviously come into play in determining these issues. The company has approximately 76 million shares of common stock outstanding.
According to the company’s statement, repurchases can occur through “open market purchases, privately negotiated or block transactions as permitted by securities laws and other legal requirements”. The company has also suggested it will not repurchase any shares from its management team or other insiders.
