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Quotes & Info
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| GTSI > SEC Filings for GTSI > Form 8-K on 12-Jun-2009 | All Recent SEC Filings |
12-Jun-2009
Other Events, Financial Statements and Exhibits
Effective June 8, 2009, the Board of Directors of GTSI Corp.(the "Board")
authorized a program for periodic purchases of common stock of GTSI Corp.
("GTSI") through May 27, 2011 for an aggregate purchase price not to exceed
$5 million (the "Program"), replacing GTI's stock repurchase program announced
in December 2008. Under the Program, GTSI's repurchase of shares may be
conducted from time to time as GTSI's chief executive officer or chief financial
officer may determine in open market transactions or privately negotiated
transactions. Share repurchases under the Program will be subject to
(a) applicable federal securities laws and other legal requirements and GTSI's
Credit Agreement (effective May 27, 2009), including the requirements therein
that the aggregate purchase price for share repurchases over the two-year term
of the Credit Agreement shall not exceed $5 million and that GTSI is otherwise
in compliance with the Credit Agreement. The Program also requires quarterly
reporting to the Board of any share repurchases; and the Board's prior approval
for any use of repurchased shares. The Program does not obligate GTSI to acquire
any particular number of shares. As of June 11, 2009, GTSI had 9,629,744 shares
of common stock outstanding and the closing price of such common stock was $5.55
per share.
(d) Exhibits.
99.1 Press Release issued by GTSI Corp., dated June 12, 2009.
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