Mannatech Announces Share Repurchase Program
20 Septembre 2022 - 12:00PM
Business Wire
Mannatech, Incorporated
(NASDAQ: MTEX), (“Mannatech”), today announced that its Board of
Directors has approved a share repurchase program to acquire up to
$1.5 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 19, 2022 and ends on
the earlier of (i) September 18, 2023 or (ii) the purchase of
common stock having an aggregate purchase price of $1.5 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. The company has been
operating for more than 25 years with operations in 25 markets^.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220916005312/en/
Donna Giordano Manager, Executive Office Administration
972-471-6512 ir@mannatech.com
Mannatech (NASDAQ:MTEX)
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