The Board of Directors of Tucows Inc. (AMEX:TCX) authorized a share repurchase program on March 1, 2013. Under the program, the company will repurchase up to $10 million of its common stock. Repurchases will be made in the open market through the facilities of the NYSE AMEX Stock Exchange and may be in large block purchases. Repurchased shares will be retired and returned to treasury. The repurchases will be funded from the company’s available working capital and existing ... credit facilities. The timing and exact number of common shares purchased will be at Tucows' discretion and will depend on available cash and market conditions. Tucows may suspend or discontinue the repurchases at any time, including in the event Tucows would be deemed to be making an acquisition of its own shares under Rule 13e-3 of the Securities Exchange Act of 1934, as amended. Repurchase program will be subject to applicable securities laws and stock exchange rules. Tucows does not intend to purchase its shares from its management team or other insiders. The share repurchase program will commence immediately and will terminate on February 28, 2014. As of February 28, 2013, Tucows had 40,000,000 common shares outstanding. As of March 31, 2013, the company has repurchased 143,073 shares, representing 0.35% for a total cost of $0.26 million.
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