Some re-positioning today- Added to CTG. RE-Last Qtr. PR. 2018, the Company had approximately $7.8 million remaining under its existing repurchase authorization program. IBM an important customer. IMO a chance for new business now that IBM is buying RED HAT?
P.S. on sale now.
Computer Task Group, Incorporated Announces Final Results of its Modified “Dutch Auction” Tender Offer Company Will Acquire 1,530,990 Shares at $8.85 Per Share
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April 20, 2018 09:00 ET | Source: Computer Task Group, Incorporated
BUFFALO, N.Y., April 20, 2018 (GLOBE NEWSWIRE) -- Computer Task Group, Incorporated (NASDAQ: CTG), a leading provider of information technology (IT) solutions and services in North America and Western Europe, today announced the final results of its modified “Dutch Auction” tender offer, which expired at midnight, Eastern Daylight time, at the end of the day on Monday, April 16, 2018.
Based on the final count by the depositary for the tender offer, CTG accepted for payment an aggregate of 1,530,990 shares at a purchase price of $8.85 per share. Because the number of shares tendered at or below the $8.85 purchase price exceeded the amount that CTG offered to purchase, the resulting proration factor, after giving effect to the priority for “odd lots,” was approximately 89.9% percent. The depositary will promptly pay for all the shares accepted for purchase and will return all other shares tendered.
The tender offer was made pursuant to CTG’s Offer to Purchase dated March 16, 2018, and the related Letter of Transmittal, in which the Company offered to purchase up to 1,530,990 shares of its common stock at a price per share not less than $8.05 and not greater than $9.00, which documents were filed with the Securities and Exchange Commission on March 16, 2018.
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