The Board of Directors of Lifevantage Corporation (NasdaqCM:LFVN) authorized a share repurchase program on March 22, 2013. Under the program, the company will repurchase up to $5 million of its common stock. The company will make repurchases from time to time through a variety of methods, including in the open market, through privately negotiated transactions or other means as determined by the company’s management, in accordance with applicable securities laws. The ... company is exploring more broadly options to reduce the number of outstanding shares, which it believes would further demonstrate the company’s commitment to enhancing long-term shareholder value. As part of the repurchase program, the company expects that it will to enter into a pre-arranged stock repurchase plan which would operate in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934. Accordingly, transactions, if any, under the pre-arranged repurchase plan would be effected in accordance with the terms of the stock repurchase plan, including specified price, volume and timing conditions. As of May 9, 2013, no repurchases were made.
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The Board of Directors of Lifevantage Corporation (NasdaqCM:LFVN) authorized a share repurchase program on December 14, 2012. Under the program, the company will repurchase up to $5 million of its common stock. The company will make repurchases from time to time through a variety of methods, including in the open market, through privately negotiated transactions or other means as determined by the company’s management, in accordance with applicable securities laws. As ... part of the repurchase program, the company expects that it will to enter into a pre-arranged stock repurchase plan which would operate in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934. Accordingly, transactions, if any, under the pre-arranged repurchase plan would be effected in accordance with the terms of the stock repurchase plan, including specified price, volume and timing conditions. Any such repurchases will be made out of existing cash or free cash flow from continuing operations. The company believes that the stock buy-back program is in the best interests of the stockholders, given the underlying strength of the business and the recent turbulence in the equity markets. The company intends to implement this buyback program while maintaining sufficient resources to continue to improve the balance sheet and invest in future expansion opportunities. As of March 31, 2013, the company has repurchased 2,004,652 shares for $4.85 million.
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