ePlus inc. (NASDAQ NQGS: PLUS – news) today announced that its board of directors has authorized the Company to repurchase up to 1,000,000 shares of ePlus’ outstanding common stock over a 12-month period commencing May 28, 2023. The Company’s current repurchase plan will expire on May 27, 2023. ePlus had approximately 26.9 million shares of common stock outstanding as of April 3, 2023.
The purchases may be made from time to time in the open market, or in privately negotiated transactions, subject to availability. Any repurchased shares will have the status of treasury shares and may be used, if and when needed, for general corporate purposes. ePlus has no obligation to repurchase shares under the authorization, and the timing, actual number and value of the shares which are repurchased will be at the discretion of management and will depend on a number of factors, including the price of the Company’s common stock. The Company may suspend or discontinue repurchases at any time.
