BLUE BELL, Pa., Sept. 19, 2018 /PRNewswire/ --- MAM Software
Group, Inc. (NASDAQ Capital Market: MAMS) (the "Company" or
"MAM"`), a leading global provider of on-premise and cloud-based
business management solutions for the auto parts, tire and vertical
distribution industries, announced that its Board of Directors has
authorized to repurchase of up to $2,000,000 of its
common stock, effective September 19, 2018. Under
the authorization provided by the Board, stock repurchases may be
made through open market and privately negotiated transactions at
times and in such amounts as management deems appropriate. In
addition, open market repurchases of common stock may be made
pursuant to trading plans established pursuant to Rule 10b5-1 under
the Securities Exchange Act of 1934, as amended, which would permit
common stock to be repurchased at a time that MAM might otherwise
be precluded from doing so under insider trading laws or
self-imposed trading restrictions. The timing and actual number of
shares repurchased will depend on a variety of factors, including
but not limited to, stock price, trading volume, MAM's cash
balances, general business and market conditions, the dilutive
effects of share-based incentive plans, alternative investment
opportunities, working capital needs and other factors. The stock
repurchase authorization, which does not require the Company to
purchase any specific or minimum number of shares, does not have an
expiration date and may be suspended or terminated at any time
without prior notice. Repurchased shares will be returned to
the status of authorized but un-issued shares of common stock.
As of September 18, 2018, MAM had approximately 12,595,085
shares of common stock outstanding.
About MAM Software Group, Inc.
MAM Software is a leading global provider of cloud-based
business and on-premise management solutions for the auto parts,
tire and vertical distribution industries. The company provides a
portfolio of innovative software (SaaS and packaged), data (DaaS),
and integration (iPaaS) services that enable businesses to
intelligently manage core business processes, control costs and
generate new profit opportunities. MAM's integrated platforms
provide a wealth of rich functionality including: point-of-sale,
inventory, purchasing, reporting, data and e-commerce. Wholesale,
retail and installer business across North America, the U.K. and Ireland rely on MAM solutions, backed by
dedicated teams of experienced service and support professionals.
For further information, please visit
http://www.mamsoftware.com.
Safe Harbor Statement
This press release contains forward-looking statements regarding
the Company's working capital and future repurchases of the
Company's common stock within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from our expectations or that may
cause the Company not to make share repurchases as currently
anticipated, including alternative uses of cash, future competing
investment opportunities, general economic, business, and market
conditions, and other risks and uncertainties that may adversely
impact our business. Readers are cautioned not to place
undue reliance on these forward-looking statements. Actual results
may differ materially from those indicated by these forward-looking
statements as a result of risks and uncertainties impacting the
Company's business including, increased competition; the ability of
the Company to expand its operations through either acquisitions or
internal growth, to attract and retain qualified professionals, and
to expand commercial relationships; technological obsolescence;
general economic conditions; and other risks detailed time to time
in the Company's filings with the Securities and Exchange
Commission.
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SOURCE MAM Software Group, Inc.
