American Software, Inc. Adopts 10b5-1 Trading Plan for Share Repurchase Program
25 Setembro 2023 - 3:15PM
Business Wire
American Software, Inc. (NASDAQ: AMSWA), a leading provider of
innovative AI-powered supply chain management and advanced retail
planning platforms, announced today that it has entered into a Rule
10b5-1 trading plan to facilitate stock buybacks under an existing
share repurchase program previously approved by the Board of
Directors. There are 946,321 shares available for repurchase under
the existing authorization.
"We remain committed to strategically deploying capital to
create long-term shareholder value,” said Allan Dow, CEO of
American Software. “Our robust balance sheet and consistent cash
flow generation provide us with ample capacity to execute our
M&A strategy, as evidenced by our recent acquisition of AI
forecasting pioneer Garvis, while returning capital to our
stockholders through our quarterly dividend and share
repurchases.”
The actual timing, number and value of the shares repurchased
will depend on market conditions, share price, trading volume and
other factors. Purchases under the plan will be administered
through an independent broker and will be subject to the rules of
Nasdaq and applicable securities laws and regulations, including
Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The
repurchase program does not require American Software to acquire a
specific number of shares and may be suspended or discontinued at
any time.
About American Software
Atlanta-based American Software, Inc. (NASDAQ: AMSWA), through
its operating entity Logility, delivers prescriptive demand,
inventory, manufacturing, and supply planning tools – helping to
provide executives the confidence and control to increase margins
and service levels, while delivering sustainable supply chains.
Serving clients such as Big Lots, Carter’s, Destination XL,
Hostess, Husqvarna Group, Jockey International, Johnson Controls,
Parker Hannifin, Red Wing Shoe Company, Spanx, Dole Fresh
Vegetables, Inc., and Fender Musical Instrument Co, our solutions
are marketed and sold through a direct sales team as well as an
independent global value-added reseller distribution network.
Logility is the only supply chain planning platform leveraging
Generative AI, advanced AI-driven algorithms, and machine learning.
Our engineered approach drives team alignment for over 800
customers in 80 countries with prioritized, value-focused outcomes.
For more information about Logility, please visit www.logility.com.
Logility is a wholly-owned subsidiary and operating entity of
American Software, Inc. (NASDAQ: AMSWA). You can learn more about
American Software at www.amsoftware.com or by calling (404)
364-7615 or email kliu@amsoftware.ocom.
Forward-Looking Statements
This press release contains forward-looking statements that are
subject to substantial risks and uncertainties. There are a number
of factors that could cause actual results or performance to differ
materially from what is anticipated by statements made herein.
These factors include, but are not limited to, continuing U.S. and
global economic uncertainty and the timing and degree of business
recovery; the irregular pattern of American Software’s revenues;
dependence on particular market segments or clients; competitive
pressures; market acceptance of American Software’s products and
services; technological complexity; undetected software errors;
potential product liability or warranty claims; risks associated
with new product development; the challenges and risks associated
with integration of acquired product lines, companies and services;
uncertainty about the viability and effectiveness of strategic
alliances; American Software, Inc.’s ability to satisfy in a timely
manner all Securities and Exchange Commission (SEC) required
filings and the requirements of Section 404 of the Sarbanes-Oxley
Act of 2002 and the rules and regulations adopted under that
Section; as well as a number of other risk factors that could
affect American Software’s future performance. For further
information about risks American Software could experience as well
as other information, please refer to American Software, Inc.’s
current Form 10-K and other reports and documents subsequently
filed with the SEC. For more information, contact: Kevin Liu,
American Software, Inc., (626) 657-0013 or email
kliu@amsoftware.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230925924287/en/
Investor Contact: Kevin Liu kliu@amsoftware.com (626)
424-1535
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