ZAGG Announces Share Repurchase Program
SALT LAKE CITY -- December 13, 2012
ZAGG Inc (NASDAQ: ZAGG), a leading mobile device accessories company, today
announced that its board of directors has authorized a share repurchase
program under which the company may repurchase up to $10 million of its
outstanding common stock from time to time on the open market.
"The share repurchase program demonstrates our commitment to building
long-term shareholder value and our confidence in the growth potential of
ZAGG," stated Randy Hales, president and CEO of ZAGG. "Given the strong demand
for ZAGG products, the expansion of our distribution, and the emergence of our
brand, we see tremendous opportunities ahead."
The share repurchases will be made from time to time over the next 12 months
at the Company’s discretion. The repurchase program may be suspended or
discontinued at any time. The Company’s board of directors also authorized the
Company to utilize a Rule 10b5-1 plan to facilitate the purchases on behalf of
the Company. Repurchased shares will be available for use in connection with
ZAGG's stock plans and for other corporate purposes. The repurchase program
will be funded using ZAGG's working capital.
About ZAGG Inc:
ZAGG Inc (NASDAQ: ZAGG) is a leading mobile device accessories and technology
company with products that protect, personalize and enhance a consumer's
mobile experience. ZAGG differentiates itself as the preferred brand by
offering creative product solutions through targeted global distribution
channels, with the broadest product offering in its sector. With a brand
portfolio that includes ZAGG^® and iFrogz^™, the company manufactures and
markets a complete line of products to improve the functionality of portable
gadgets, including keyboards, cases, audio and protective films, through
direct, retail, specialty and international channels. More information about
the company and its brands is at www.ZAGG.com.
Genesis Select Corp.
Kim Rogers-Carrete, 303-415-0200
Jane Taber, 503-546-7888
Nathan Nelson, 801-263-0699 ext. 107
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