Business
SPAR Group Announces Share Repurchase Program
AUBURN HILLS, Mich., Jan. 06, 2021 (GLOBE NEWSWIRE) -- SPAR Group, Inc. (Nasdaq: SGRP), a leading supplier of retail merchandising, business technology and
About this update from Spar Group, Inc.
[{"type":"text","content":"AUBURN HILLS, Mich., Jan. 06, 2021 (GLOBE NEWSWIRE) -- SPAR Group, Inc. (Nasdaq: SGRP), a leading supplier of retail merchandising, business technology and other marketing services in 10 countries throughout North America, Latin America, Asia Pacific and Africa, announced that its Board of Directors has authorized a new share repurchase program. Under the repurchase program, the Company may repurchase up to 500,000 shares of its outstanding shares of common stock through December 22, 2021. Commenting on the share repurchase program, Arthur H. Baer, chairman of the board of directors of SPAR Group said, “The share repurchase plan reflects the board and management’s continued commitment to increasing shareholder value and confidence in the long-term core value of the Company.” The Company currently has approximately 21.1 million shares of common stock outstanding. Purchases made pursuant to the 2021 Stock Repurchase Program will be made in either the open market, or in privately negotiated transactions from time to time as permitted by securities laws and other legal requirements. The timing, manner, price and amount of any repurchases will be determined by the Company in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. The authorization does not obligate the Company to acquire any particular amount of common stock and the program may be suspended or discontinued at the Company’s discretion without notice. Share repurchases will be funded with cash on hand and internally generated funds. About SPAR Group SPAR Group, Inc. is a diversified international merchandising and marketing services Company and provides a broad array of services worldwide to help companies improve their sales, operating efficiency and profits at retail locations. The Company provides merchandising and other marketing services to manufacturers, distributors and retailers worldwide and coordinates the operations through the use of multi-lingual proprietary technology which drives the logistics, communication and reporting for global operations and customers. SPAR works primarily in mass merchandiser, office supply, value, grocery, drug, independent, convenience, home improvement and electronics stores; as well as providing furniture and other product assembly services, audit serv...