CTI Industries (CTIB) to Buyback Up to 200K Shares
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CTI Industries Corporation (NASDAQ: CTIB) today announced that the Board of Directors of the company has approved a program under which the company intends to repurchase, under present market and business conditions, up to 200,000 shares of common stock of the company.
The number of shares to be repurchased at any time and the timing of the purchases will be at the discretion of the company's management and will be influenced by factors including the market price of the common stock of the company and results of operations. In announcing the anticipated purchases, Howard W. Schwan, President of the company, stated, "Current market conditions have made repurchase by CTI of its common stock an attractive use of available funds at this time."
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