CSG Systems International, Inc. (NASDAQ: CSGS) today announced that its Board of Directors has increased the authorization under CSG’s existing Stock Repurchase Program by an additional $100 million. This new authorization was in part due to the fact that CSG expects to enter into privately negotiated transactions in connection with its offering of convertible senior notes to repurchase substantially all of the remaining shares authorized under the prior repurchase authorization.
Under the authorization, purchases of CSG’s common stock may be made from time to time at CSG’s discretion through open market purchases, in privately negotiated transactions or by other means, including under a Rule 10b5-1 plan. The actual timing and amount of share repurchases will be dependent on the then-current market conditions and other business-related factors. CSG undertakes no obligation to repurchase any shares under the Stock Repurchase Program.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities.
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John Rea, Investor Relations
Phone: (210) 687-4409