Mannatech Announces Share Repurchase Program
August 14 2020 - 5:15PM
Business Wire
Mannatech, Incorporated (NASDAQ: MTEX), 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 the Company might otherwise be prevented from doing so
under insider trading laws or because of self-imposed blackout
periods. This repurchase program begins on August 17, 2020 and ends
on the earlier of (i) August 16, 2021 or (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. The Company intends to finance the
repurchases with available cash.
About Mannatech
Mannatech, Incorporated, offers a full body wellness experience
that makes a difference in the lives of people across the world.
Through its innovative Glyconutrition products, Mannatech changes
lives, providing an unprecedented level of natural wellness,
freedom and purpose. 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 outbreak of the
novel coronavirus ("COVID-19") pandemic, Mannatech’s inability to
attract and retain associates and preferred customers, 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/20200814005449/en/
Donna Giordano Manager, Executive Office Administration
972-471-6512 ir@mannatech.com
www.mannatech.com
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