Product category:
Design and Development Software
News Release from: Nassda Corp
Edited by the Electronicstalk Editorial
Team on 24 October 2002
Confident Nassda to repurchase stock
The Nassda Board of Directors has authorised a stock repurchase programme of up to $5 million of its common stock over the next 12 months.
The Nassda Board of Directors has authorised a stock repurchase programme of up to $5 million of its common stock over the next 12 months Shares will be repurchased in the open market at times and prices considered appropriate by Nassda
The programme is effective immediately.
"This repurchase programme reflects the confidence our Board of Directors and management have in our industry and in Nassda", said Sang Wang, Chief Executive Officer of Nassda.
"Our strong balance sheet allows us to implement this program, which we believe is in the best interests of our stockholders".
The timing of purchases and the exact number of shares to be purchased will depend on market conditions.
As of 30th September 2002, Nassda has approximately 24.9 million shares of common stock outstanding.
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