New England Bancshares, Inc. Announces Stock Repurchase Plan
29 Agosto 2011 - 10:10PM
Business Wire
New England Bancshares, Inc. (Nasdaq GM: NEBS) (the “Company”)
announced today that its Board of Directors approved a stock
repurchase program to acquire up to 307,833 shares, or
approximately 5%, of the Company's outstanding common stock. The
307,833 shares that may be repurchased under this repurchase
program are in addition to the 24,424 remaining shares that may be
repurchased under the stock repurchase program adopted by the
Company on May 12, 2009. Repurchases, which will be conducted
through open market purchases or privately negotiated transactions,
will be made from time to time depending on market conditions and
other factors. Repurchases under the Company’s stock repurchase
programs will be conducted through a Rule 10b5-1 repurchase plan.
Rule 10b5-1 allows a company to adopt a written, pre-arranged stock
trading plan at a time when it does not have material, non-public
information and avoid concerns about whether it had material,
non-public information at the time of the repurchase transactions
pursuant to the plan. There is no guarantee as to the exact number
of shares to be repurchased by the Company.
New England Bancshares, Inc. is headquartered in Enfield,
Connecticut, and operates New England Bank with fifteen banking
centers servicing the communities of Bristol, Cheshire, East
Windsor, Ellington, Enfield, Manchester, Plymouth, Southington,
Suffield, Wallingford and Windsor Locks. For more information
regarding New England Bank’s products and services, please visit
www.nebankct.com.
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