KALAMAZOO ? Government software specialist Manatron Monday that its Board of Directors authorized the purchase of up to $1 million of the Company’s stock during the next 12 months, or about 3 percent of the current market value of Manatron’s 5.1 million share outstanding.
The new plan replaces the previous repurchase plan announced September 13, 2005, which recently expired.
“We believe the repurchase of Manatron stock represents a very effective utilization of our cash and resources, based on current market conditions and the company’s growth strategy,? said Manatron Co-Chairman and CEO Paul Sylvester. ?While liquidity will dictate the amount of stock we
repurchase under this authorization, we intend to buy stock
opportunistically in the coming months, enhancing long-term shareholder
value.”
Any purchases of shares will be made through a systematic program of
open market purchases subject to availability, regulatory and other
constraints, and general economic conditions.
Manatron designs, develops, markets and supports a family of
web-based and client/server application software products for county, city
and township governments.
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