Rimage Corporation (Nasdaq: RIMG) today announced that its Board of Directors has approved a Rule 10b5-1 plan in connection with its previously announced expanded stock repurchase program. The Rule 10b5-1 plan will give the Company the ability to repurchase its shares under the expanded stock repurchase program at times when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed blackout periods. As previously disclosed, on October 26, 2012, the Rimage Board of Directors approved the repurchase of an additional 2,000,000 shares of the Company’s stock under the Company’s stock repurchase program. With the approximately 182,000 shares remaining under the previous authorization, there were a total of approximately 2,182,000 shares authorized for repurchase at October 26, 2012. About Rimage Corporation Founded in 1978, Rimage Corporation (NASDAQ: RIMG) helps businesses deliver digital content directly and securely to their customers, employees, and partners. Rimage’s Qumu business is well established in the rapidly growing enterprise video communications market. Rimage’s Signal online publishing platform automatically pushes secure mobile content to nearly any mobile device or computer. Qumu and Signal, in combination with Rimage’s CD, DVD and Blu-ray-Disc™ publishing solutions, enable businesses to securely deliver their videos, documents, audio files and images in today’s multi-platform, multi-device world. Rimage supplies thousands of customers in North America, Europe and Asia with industry-leading solutions that increase engagement, collaboration and control. Additional information can be found at www.rimagecorp.com. Blu-ray Disc™ is a trademark of the Blu-ray Disc Association.
Shares of Rimage Corporation (Nasdaq:RIMG) were gapping down Monday morning with an open price 14.6% lower than Friday's closing price. The stock closed at $13.18 yesterday and opened today's trading at $11.25.