VANCOUVER, Dec. 10, 2012 /PRNewswire/ - Destiny Media Technologies (TSXV: DSY) (OTCQX: DSNY) is pleased to announce a new share repurchase program.
The board of directors has authorized a program to repurchase up to 1 million shares of the company's common stock at a maximum share purchase price of $1.00 per share. The repurchases will be at times and in amounts as the company deems appropriate and will be made through open market transactions on US exchanges. All repurchases will be made in compliance with the Securities and Exchange Commission's Rule 10b-18, subject to market conditions, applicable legal requirements and other factors. The board approved stock repurchase program runs through May 31st, 2013. In addition to the applicable securities laws, the company will not make any purchases during a time at which its insiders are subject to a blackout from trading in the company's common shares.
Under the previous plan, which expired June 30th, 2012, the company repurchased and canceled a total of 2,155,895 shares.
About Destiny Media Technologies, Inc.
Universal, EMI, Warner, Sony and one thousand other labels use Destiny's secure distribution service to deliver most of their pre-release music to radio, online retail, DJ's, sports stadiums, journalists and VIP. Destiny's instant play streaming includes internet radio, internet TV, online surveys and new cloud and mobile offerings. Patents include watermarking, peer to peer locking and pending cross platform playerless streaming video.
SOURCE Destiny Media Technologies, Inc.