PRINCETON, N.J.-Intek Global Corp. announced it repurchased 352,500 common shares from Simmonds Capital Ltd. at $2.75 per share, in a private transaction of both cash and notes.
Intek has repurchased 184,500 shares under a buy-back plan approved by its board of directors to spend up to $1 million on up to 1 percent of the company’s outstanding shares. The repurchase from SCL brings total repurchased shares to 537,000, at an average price of $2.47 per share.
