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ePlus (PLUS) Plans 500K Stock Buyback

June 16, 2014 8:35 AM EDT

ePlus, Inc. (Nasdaq: PLUS) announced that its board of directors has authorized the Company to repurchase up to 500,000 shares of ePlus' outstanding common stock over a 12-month period commencing June 16, 2014. This new authorization replaces the Company's current repurchase plan which was to expire on November 13, 2014. The current plan, which commenced November 14, 2013, authorized the repurchase of up to 750,000 shares of ePlus' outstanding common stock. Since commencement of the plan, the Company has repurchased 687,488 shares through June 12, 2014. ePlus had approximately 7.5 million shares of common stock outstanding as of June 9, 2014.

The purchases may be made from time to time in the open market, or in privately negotiated transactions, subject to availability. Any repurchased shares will have the status of treasury shares and may be used, if and when needed, for general corporate purposes. ePlus has no obligation to repurchase shares under the authorization, and the timing, actual number and value of the shares which are repurchased will be at the discretion of management and will depend on a number of factors, including the price of the Company's common stock. The Company may suspend or discontinue repurchases at any time.



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