SUNNYVALE, Calif., March 18, 2013 (GLOBE NEWSWIRE) -- Telenav®, Inc. (Nasdaq:TNAV), the leader in personalized navigation, today announced that its board of directors has authorized the company to repurchase up to $10 million, inclusive of broker fees, of its common stock under a share repurchase program, in compliance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The timing and amount of repurchase transactions under this program will depend on market conditions and other considerations. All of the repurchases will be funded by Telenav's available working capital and the duration of the repurchase program is 12 months, although it may be extended, suspended or discontinued without prior notice.
Telenav Announces Stock Repurchase Plan
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