This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Angeion Corporation Reports Strong Initial Activity Under Its Stock Repurchase Program

Angeion Corporation (NASDAQ: ANGN) today announced that it has successfully commenced repurchases under its recently modified stock repurchase program. On September 22, 2010, the Company executed a single block purchase of approximately 100,000 shares at a repurchase price of $4.25 per share.

As announced earlier this month, Angeion is currently authorized to purchase up to $2 million worth of its outstanding shares of common stock in the open market or in privately negotiated transactions. The September 22, 2010 transaction represents more than 20% of the current authorized repurchase amount. The repurchase program is set to run until April 30, 2011.

Rodney A. Young, Angeion’s President and Chief Executive Officer, stated, “We are pleased with the initial progress under the repurchase program. These recent purchases demonstrate our commitment to take actions to capitalize on the current market pricing that we believe will benefit the Company and our shareholders.”

Angeion intends to continue to make public purchases in compliance with SEC Rule 10b-18. Under that rule, Angeion may purchase shares in the open market or in privately negotiated transactions. Open market purchases are limited, in any single day, to 25% of the average daily trading volume for the prior four calendar weeks. Repurchases through privately negotiated transactions are not subject to these restrictions.

Through September 22, 2010, and including the shares repurchased on that day, Angeion has bought back a total of 164,149 shares at a cost of $4.34 per share. The total amount remaining authorized for purchase under the current program is approximately $1.3 million.

The timing and actual number of shares purchased will depend upon a variety of factors, such as price, corporate and regulatory requirements, alternative investment opportunities, and other market and economic conditions. Angeion will fund repurchases from its available working capital. This program may be started, suspended or terminated at any time, or from time to time at management’s discretion without prior notice.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs