Domain Registrar, Tucows, Approves $10 Million Dollar Stock Repurchase
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Toronto, Canada - (Cheap Web Hosting Directory) - January 19, 2007 - Internet services provider and domain registrar, Tucows’ Board of Directors, has approved a stock buyback program of up to $10 million for the repurchase of its common stock.
The timing and exact number of shares purchased will be at the Company’s discretion and will depend on market conditions and may be suspended or discontinued at any time. All repurchases may occur through open market purchases, privately negotiated or block transactions as permitted by securities laws and other legal requirements. The Company does not intend to repurchase any shares from its management team or other insiders. The Company currently has approximately 76 million shares of common stock outstanding.
Tucows Inc. provides Internet services and download libraries through a global distribution network of 6,000 service providers. This distribution network primarily consists of web hosting companies, ISPs (Internet Service Providers) and other Internet related service companies. The companies use Tucows’ provisioned services to offer solutions to customer: enterprises, small and medium businesses and consumers. Tucows is an accredited registrar with ICANN (the Internet Corporation for Assigned Names and Numbers) and earns most of its revenue from domain name registration services plus hosted email, spam and virus protection, blogware, website building tools, the Platypus Billing System and digital certificates.
To learn more, please visit: www.tucowsinc.com
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