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Intersections Inc.(Nasdaq: INTX), a leading provider of consumer and corporate identity theft risk management services, 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.
About Intersections (
Intersections Inc. (Nasdaq: INTX) is a leading provider of consumer and corporate identity risk management services. Intersections provides various levels of service to more than 8.2 million consumers. Those services are offered through North America's leading financial institutions, directly to consumers under Intersections’ award-winning IDENTITY GUARD(R) brand (
http://www.identityguard.com), and through the company’s exclusive partnership with ITAC,
the Identity Theft Assistance Center. Since 1996, Intersections has protected the identities of more than 35 million consumers.
Statements in this press release relating to future plans, results, performance, expectations, achievements and the like are considered “forward-looking statements.” Those forward-looking statements involve known and unknown risks and are subject to change based on various factors and uncertainties that may cause actual results to differ materially from those expressed or implied by those statements, including without limitation the effect of new subscriber additions. Factors and uncertainties that may cause actual results to differ include but are not limited to the risks disclosed in the Company’s filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to revise or update any forward-looking statements.