Limelight Networks Authorizes New $25 Million New Share Repurchase Program
2017年3月15日 - 10:15PM
ビジネスワイヤ(英語)
Limelight Networks (NASDAQ: LLNW) today announced that its Board
of Directors has authorized a new $25 million share repurchase
program.
“This authorization demonstrates our belief that the Company’s
prospects and long-term strategy are not reflected by the Company’s
current stock price and confirms our commitment to create and
return value to our shareholders. We believe that the current
strength of our balance sheet and our outstanding cash balance
allow us to pursue this program even as we invest in the long-term
expansion and growth of our business,” said Sajid Malhotra,
Limelight’s chief financial officer.
This program replaces the $9.5 million remaining from the
previously announced $15 million share repurchase program. The
Company’s management will determine details of the program
(including the timing and amount of any shares repurchased) based
on its evaluation of market conditions and other factors. The
Company anticipates purchasing its common stock on the open market
or in privately negotiated transactions from time to time following
the release of the Company’s financial results for the quarter
ending March 31, 2017. Any repurchase executed in the open market
will be done in compliance with all applicable securities laws and
regulations, including Rule 10b-18 and may also be made under one
or more Rule 10b5-1 plan, which would permit the Company to
repurchase shares when the Company might otherwise be precluded
from doing so under insider trading laws. The Company may choose to
terminate or suspend the repurchase program at any time.
About Limelight
Limelight Networks, a global leader in digital content delivery,
empowers customers to better engage online audiences by enabling
them to securely manage and globally deliver digital
content, on any device. The company’s award winning Limelight
Orchestrate™ platform includes an integrated suite of content
delivery technology and services that helps organizations secure
digital content, deliver exceptional multi-screen experiences,
improve brand awareness, drive revenue, and enhance customer
relationships — all while reducing costs. For more information,
please visit www.limelight.com, read our blog, follow us
on Twitter, Facebook and LinkedIn and be
sure to visit Limelight Connect.
Forward-Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties. These statements include, among
others, statements regarding our expectations regarding our future
plans. Our expectations and beliefs regarding these matters may not
materialize. The potential risks and uncertainties that could cause
actual results or outcomes to differ materially from the results or
outcomes predicted include, among other things, reduction of demand
for our services from new or existing customers or other unforeseen
changes. A detailed discussion of these factors and other risks
that affect our business is contained in documents we file from
time to time with the Securities and Exchange Commission, copies of
which are available online on our investor relations website at
investors.limelightnetworks.com and on the SEC website at
www.SEC.gov. Forward-looking statements in this release are made
pursuant to the safe harbor provisions contained in the Private
Securities Litigation Reform Act of 1995. All information provided
in this release is as of March 15, 2017, and we undertake no duty
to update this information in light of new information or future
events, unless required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170315005242/en/
Limelight NetworksVeronica Bracker, 602-850-5766
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