Manhattan Bridge Capital (LOAN) Approves 150k Common Stock Buyback Plan
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Manhattan Bridge Capital (NASDAQ: LOAN) announced that its Board of Directors has authorized a common stock repurchase allowing the buyback of up to 150,000 common shares in market or off-market transactions at prevailing prices over the next twelve months.
The manner, timing and number of shares purchased will be at the Company’s discretion.
Assaf Ran, Chairman of the Board and CEO stated, “The Company and its Board have decided to approve this stock buy-back program in order to be able to take advantage of unpredictable and volatile market conditions as occurred recently, and buy its own shares at what Management believes could be significantly undervalued prices.”
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