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PGi (PGI) Announces 5 Million Share Buyback

December 20, 2012 5:48 PM EST Send to a Friend
PGi (NYSE: PGI), a global leader in virtual meetings for over 20 years, today announced that its Board of Directors approved the repurchase of up to 5.0 million shares of the Company's common stock, or nearly 11% of total shares currently outstanding, under a new stock repurchase program. PGi repurchased nearly 1.2 million shares of common stock during the fourth quarter under its previous Board-authorized repurchase program for up to 5.0 million shares. Under this previously authorized program, PGi has repurchased an aggregate total of approximately 4.4 million shares, and approximately 600,000 shares remain available for repurchase.

Share repurchases will be made in the open market at prevailing market prices or in privately negotiated transactions in accordance with all applicable securities laws and regulations. Such repurchases may occur from time to time and may be discontinued at any time. There is no expiration date for the new stock repurchase program. PGi has approximately 47.3 million shares of common stock currently outstanding.




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