Intersections (INTX) Announces $3M Repurchase
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Intersections Inc. (Nasdaq: INTX) today announced that it has entered into a trading plan in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934 to facilitate repurchases by the Company of up to $3.0 million of its common stock. It is anticipated that the repurchase plan will commence on December 1, 2012 and will remain in effect until May 31, 2013 but may be limited or terminated at any time without prior notice.
The repurchase plan is being entered into under the Company’s previously announced $20.0 million Board authorized share repurchase program ($19.8 million of which remains available) and is permitted under the Company’s recently amended credit agreement. Under the repurchase program, the repurchases may be made on the open market, in block trades, through privately negotiated transactions or otherwise, and the program may be suspended or discontinued at any time.
The repurchase plan is being entered into under the Company’s previously announced $20.0 million Board authorized share repurchase program ($19.8 million of which remains available) and is permitted under the Company’s recently amended credit agreement. Under the repurchase program, the repurchases may be made on the open market, in block trades, through privately negotiated transactions or otherwise, and the program may be suspended or discontinued at any time.
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