MINNEAPOLIS--(BUSINESS WIRE)--Insignia Systems, Inc. (Nasdaq: ISIG) (“Insignia” or “the Company”) announced today that the Company’s Board of Directors approved a stock repurchase program authorizing the Company to repurchase up to $5,000,000 of the Company’s common stock. The announcement reflects the Board’s desire to return value to shareholders and its continuing efforts to investigate uses of the Company’s cash. The Company will fund repurchases through cash on hand and future cash flow from operations.
The program replaces the Company’s prior stock repurchase authorization, which was set to expire on December 3, 2015 and under which the Company repurchased approximately 1.4 million shares. The program provides that shares may be purchased from time to time on the open market or in privately negotiated transactions until October 30, 2017. The program does not obligate the Company to acquire any particular amount of common stock, and purchases may be commenced, suspended or discontinued at any time at its discretion.
About Insignia Systems, Inc.
Insignia
Systems, Inc. is a developer and marketer of innovative in-store
products, programs and services that help consumer goods manufacturers
and retail partners drive sales at the point of purchase. Insignia
provides at-shelf media solutions in approximately 13,000 retail
supermarkets, 2,000 mass merchants and 8,000 dollar stores. With a
client list of over 200 major consumer goods manufacturers, including
General Mills, Kellogg Company, Kraft Foods, Nestlé and P&G, Insignia
helps major brands deliver on their key engagement, promotion, and
advertising objectives right at the point-of-purchase. For additional
information, contact (800) 874-4648, or visit the Insignia website at www.insigniasystems.com.
