CTG (CTGX) Announces Extension of 10b5-1 Plan to Facilitate Share Buybacks
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CTG (Nasdaq: CTGX), an international information technology (IT) staffing and solutions company, announced that it extended a stock repurchase plan under Rule 10b5-1 of the Securities and Exchange Commission (the "Company 10b5-1 Plan") to facilitate the repurchase of its common stock under its outstanding repurchase authorizations. The Company has approximately 0.9 million shares available for repurchase as of June 26, 2008 under previous authorizations.
"We are extending our 10b5-1 plan originally implemented during 2007 as it gives us the ability to repurchase shares during our self-imposed blackout periods prior to the announcement of quarterly results," said CTG Chairman and Chief Executive Officer James R. Boldt. "We also believe CTG's shares remain attractively valued and intend to continue actively repurchasing our stock in 2008."
CTG provides IT staffing and solutions to help Global 2000 clients focus on their core businesses and use technology as a competitive advantage to excel in their markets.
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