Feb. 4, 2013
/PRNewswire/ -- Santeon Group Inc. (OTC: SANT, "Santeon" - News) today announced that its Board of Directors (the "Board") has authorized a program to repurchase up to five hundred thousand dollars
of common stock in the open market over the next twelve (12) months. Under the program authorized by the Board, Santeon may repurchase shares of common stock in the open market or through privately negotiated transactions over the next twelve months and as permitted under Securities Exchange Act of 1934 Rule 10b-18. A condition of the Board's authorization is that all purchases be made using internally generated funds.
, Chairman and Chief Executive Officer of Santeon Group Inc., commented on the Board authorization, "I am very pleased the Board has taken this strategic step and authorized the share repurchase program. Given the underlying strength of Santeon's business, our recent customer wins and positive financial trends, we believe our current stock price is undervalued. Therefore, the share repurchase program is in the best interests of our stockholders."
The extent to which Santeon repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations, as determined by Santeon's management team.
About Santeon Group Inc.
Santeon Group Inc. is a technology company headquartered in
with offices in
. Santeon offers products and services in Agile training and transformation, healthcare and media. Santeon's goal is to serve emerging markets by providing technically superior products and solutions while reducing the cost of ownership and deployment of these solutions through a strong channel partner and distribution model. For more information please visit our web site at
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the United States
economy, changes in the securities markets legislative or regulatory changes, the loss of key personnel, technological changes, changes in customer habits, our ability to manage these and other risks, and our ability to deliver products and services on time. However, other factors besides those listed above could adversely affect our results, and you should not consider any such list of factors to be a complete set of all potential risks or uncertainties. These forward-looking statements are not guarantees of future performance, but reflect the present expectations of future events by our management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Any forward-looking statements made by us speak only as of the date they are made. For additional information about Santeon's business and financial results, refer to Santeon's Annual Report on Form 10-K that may be found at sec.gov or on
. Santeon undertakes no obligation to update any forward-looking statements that may be made from time to time by the company, except as may be required by applicable law, whether as a result of new information, future events or otherwise.
Investor Relations contact:
Santeon Group, Inc.703-970-9200, ext. 112