BEDFORD, Mass., Oct. 29 /PRNewswire-FirstCall/ -- Aware, Inc. (Nasdaq: AWRE), a leading supplier of broadband technology and biometrics software, announced today that its Board of Directors has approved an extension to the program originally authorized on August 28, 2007 to repurchase from time to time at management's discretion up to $5 million worth of shares of the Company's common stock in the open market or in private until December 31, 2009 at prevailing market prices. The Board of Directors has also approved the repurchase of up to an additional $5 million worth of shares of the Company's common stock in addition to the up to $5,000,000 worth of shares originally authorized on August 28, 2007. As of September 30, 2008, the Company had purchased approximately $2.3 million worth of shares of the Company's common stock.
As of October 27, 2008, the Company had 23,307,742 shares of common stock outstanding. Repurchases will be made under the program using the Company's own cash resources and will be in accordance with Rule 10b-18 under the Securities Exchange Act of 1934 and other applicable laws, rules and regulations.
The program does not obligate the Company to acquire any particular amount of common stock and the program may be modified or suspended at any time at the Company's discretion. As of October 27, 2008, the Company had approximately $37 million of cash, cash equivalents and marketable securities.
Aware is a leading technology supplier for the telecommunications and
biometrics industries. For more than ten years, Aware has pioneered
innovations at telecommunications standards-setting organizations and
continues to develop and market DSL silicon intellectual property and test
and diagnostics products. Its StratiPHY(TM) IP product line supports DSL
standards, including ADSL2+ and VDSL2, and has been broadly licensed to
leading semiconductor companies. Telecom equipment vendors and phone
companies use Aware'
|SOURCE Aware, Inc.|
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