Tree.com Announces Rule 10b5-1 Share Repurchase Plan
CHARLOTTE, N.C., June 7, 2012 /PRNewswire/ -- Tree.com, Inc. (NASDAQ: TREE) announced today it has entered into a trading plan established under Rule 10b5-1 under the Securities Exchange Act of 1934 to facilitate repurchases by the Company of its shares common stock. The amount and timing of repurchases will depend on a number of factors including the price and availability of shares of the Company's common stock, trading volume and general market conditions. The repurchase plan may be limited or terminated at any time without prior notice.
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The repurchase plan is being entered into under the Company's previously announced $10.0 million Board-authorized share repurchase program. As of March 31, 2012, $4.3 million remained available under such repurchase plan.
"With the previously announced closing of the sale of the Home Loan Center, Inc. business, our cash position has become much more favorable," said Doug Lebda, Chairman and CEO of Tree.com. "We see this as a great time for the Company to resume repurchasing shares of its common stock."
About Tree.com, Inc.
Tree.com, Inc. (NASDAQ: TREE) is the parent of several brands and businesses that provide information, tools, advice, products and services for critical transactions in our customers' lives. Our family of brands includes: LendingTree®, GetSmart®, DegreeTree®, LendingTreeAutos, DoneRight! ® and ServiceTree(SM). Together, these brands serve as an ally for consumers who are looking to comparison shop for loans, home services, education, auto and other services from multiple businesses and professionals who will compete for their business.
Tree.com, Inc. is headquartered in Charlotte, N.C. and maintains operations solely in the United States. For more information, please visit www.tree.com.
SOURCE Tree.com, Inc.
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