| By Business Wire |
Article Rating: |
|
| December 10, 2012 06:21 PM EST |
Reads: |
328 |
Net Element International, Inc. (NASDAQ: NETE), a technology driven
group in mobile commerce and payment processing, as well as in
entertainment and culture Internet destinations in Russia and other
emerging markets, today announced that its Board of Directors adopted a
plan to repurchase up to USD $2.5 million of issued and outstanding
shares of Net Element’s common stock in the open market or in privately
negotiated transactions during the 24-month period ending December 10,
2014. Net Element currently has approximately 28.3 million shares of
common stock outstanding.
Repurchases will be made under the plan using Net Element’s own cash
resources. These repurchases, if and when effectuated, will be made
subject to market conditions, applicable legal requirements (including
federal and state securities laws as well as rules and regulations of
the United States Securities and Exchange Commission) and other factors.
This plan does not obligate Net Element to acquire any particular amount
of common stock and the plan may be modified, extended or terminated at
any time at Net Element’s discretion.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, these securities, nor will there be any
sale of these securities, in any state or other jurisdiction in which
such offer, solicitation or sale is prohibited.
About Net Element International, Inc.:
Net Element International Inc. (NASDAQ: NETE) is a technology driven
group in mobile commerce and payment processing, as well as in
entertainment and culture Internet destinations in Russia and other
emerging markets. Net Element owns and operates a mobile-commerce
company, TOT Money, as well as several Internet properties that create
social and business communities in the entertainment, music, motorsports
and film industries. Net Element’s portfolio includes: www.TOTmoney.ru;
www.Motorsport.com;
www.Openfilm.com;
www.Music1.ru;
www.ARLive.com
and www.Yapik.com.
For more information, visit www.NetElement.com.
Forward-Looking Statements:
This press release contains forward-looking statements that are subject
to the safe harbors created under the Securities Act of 1933, as
amended, and the Securities Exchange Act of 1934, as amended. These
statements relate to future events or Net Element’s future financial
performance and can be identified by the use of forward-looking
terminology such as “estimate,” “project,” “forecast,” “plan,”
“believe,” “may,” “expect,” “anticipate,” “intend,” “planned,”
“potential,” “can,” “expectation” and similar expressions, or the
negative of those expressions. These forward-looking statements are
based on management’s reasonable current assumptions and expectations.
Such forward-looking statements involve risks, uncertainties and other
factors which may cause Net Element’s actual results, levels of
activity, performance or achievement to be materially different from any
future results expressed or implied by such forward-looking statements,
and there can be no assurance that actual results will not differ
materially from management’s expectations. Please refer to the risk
factors contained in Net Element’s filings with the Securities and
Exchange Commission available at www.sec.gov,
including Net Element’s most recent Annual Report on Form 10-K, its
Quarterly Reports on Form 10-Q and its Current Reports on Form 8-K.
Readers are cautioned not to place undue reliance on any forward-looking
statements, which speak only as of the date on which they are made. Net
Element undertakes no obligation to update or revise any forward-looking
statements for any reason.
