FLOWER MOUND, Texas--(BUSINESS WIRE)--Nov. 14, 2018--
Mannatech,
Incorporated(NASDAQ: MTEX),
a global health and wellness company committed to transforming lives to
make a better world, announced that its Board of Directors has
authorized the company to begin the repurchase of up to $0.5 million of
the company's outstanding common shares from time to time in the open
market pursuant to the company's existing share repurchase program. As
of October 31, 2018, the company had approximately 2.4 million shares
outstanding.
The timing, volume and nature of share repurchases will be at the
discretion of management and dependent on market conditions, applicable
securities laws and other factors and may be suspended or discontinued
at any time. Repurchases will be subject to market conditions and other
factors, including our company's black-out periods during which the
company and its insiders are prohibited from trading in the company's
common shares. While black-out periods typically occur after the end of
a fiscal quarter in anticipation of the public release of quarterly
earnings, the company may impose a black-out period at any time without
advance public notice. No assurance can be given that any particular
amount of common stock will be repurchased. This repurchase program may
be modified or terminated by the Board of Directors at any time.
About Mannatech
Mannatech, Incorporated is committed to transforming lives through the
development of high quality integrated health, weight management,
fitness and skin care products distributed through its global network of
independent associates and members. The company has been operating for
more than 20 years with operations in 26 markets^. For more information,
visit Mannatech.com.
^ Mannatech operates in China under a cross-border e-commerce platform
that is separate from its network marketing model.
Please Note: This release contains “forward-looking statements”
within the meaning of Section 27A of the Securities Act of 1933, as
amended, Section 21E of the Securities Exchange Act of 1934, as amended,
and the Private Securities Litigation Reform Act of 1995. These
forward-looking statements generally can be identified by use of phrases
or terminology such as “may,” “will,” “should,” "hope," “could,”
“would,” “expects,” “plans,” “intends,” “anticipates,” “believes,”
“estimates,” “approximates,” “predicts,” “projects,” “potential,” and
“continues” or other similar words or the negative of such terminology.
Similarly, descriptions of Mannatech’s objectives, strategies, plans,
goals or targets contained herein are also considered forward-looking
statements. Mannatech believes this release should be read in
conjunction with all of its filings with the United States Securities
and Exchange Commission and cautions its readers that these
forward-looking statements are subject to certain events, risks,
uncertainties, and other factors. Some of these factors include, among
others, Mannatech’s inability to attract and retain associates and
members, increases in competition, litigation, regulatory changes, and
its planned growth into new international markets. Although Mannatech
believes that the expectations, statements, and assumptions reflected in
these forward-looking statements are reasonable, it cautions readers to
always consider all of the risk factors and any other cautionary
statements carefully in evaluating each forward-looking statement in
this release, as well as those set forth in its latest Annual Report on
Form 10-K, and other filings filed with the United States Securities and
Exchange Commission, including its current reports on Form 8-K. All of
the forward-looking statements contained herein speak only as of the
date of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181114005947/en/
Source: Mannatech, Incorporated
Diane Barton
972-471-8116
pr@mannatech.com
Donna Giordano
Manager, Executive Office Administration
972-471-6512
ir@mannatech.com
www.mannatech.com