Loral Announces Stock Repurchase Program of up to 800K Shares
Loral Space & Communications Inc. (NASDAQ: LORL) today announced that its board of directors has approved a stock repurchase program under which the Company may repurchase up to 800,000 shares of its outstanding voting common stock. Loral had 21,207,448 shares of voting common stock and 9,505,673 shares of non-voting common stock outstanding as of October 31, 2011.
The repurchase program authorizes shares to be repurchased from time to time in open market or private transactions, through block trades, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission.
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