📅 - Internet services provider Tucows (tucowsinc.com) announced on Tuesday that its board of directors has approved a stock buyback program of up to $10 million for the repurchase of its common stock.
The timing and exact number of shares purchased will be at Tucows' discretion and will depend on market conditions and may be suspended or discontinued at any time. All repurchases may occur through open market purchases, privately negotiated or block transactions as permitted by securities laws and other legal requirements.
The company does not intend to repurchase any shares from its management team or other insiders, and currently has approximately 76 million shares of common stock outstanding. Tucows provides Internet services through a global distribution network of 6,000 Web hosting providers, ISPs and other Internet related service companies. The company's partners use Tucows' provisioned services to offer solutions to their customers, which consist of enterprises, small and medium businesses and consumers.
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