Navigation Links
MGT Capital Investments, Inc. Approves Share Buyback Program
Date:2/14/2008

Board authorizes buyback of up to 1,000,000 shares of MGT stock

NEW YORK, Feb. 14 /PRNewswire-FirstCall/ -- MGT Capital Investments, Inc. (Amex: MGT), a holding company focused on the Healthcare Information Technology ("HCIT") sector, today announced that its Board of Directors has authorized the repurchase of up to 1,000,000 shares, between February 14, 2008 and December 31, 2008.

Tim Paterson-Brown, Chairman and CEO, commented on the stock repurchase plan, stating: "The initiation of this stock repurchase program stems from recent news announcements by our two subsidiary companies. Medicsight PLC has announced a landmark preliminary agreement with the Systems Integration Division of Toshiba Medical Systems Corporation. Medicexchange PLC has announced a preliminary agreement for the acquisition of Maydeal.com, a Chinese medical equipment website. We see both of these announcements as accretive to shareholder value.

"Our belief is that the current market value of MGT shares does not accurately reflect the underlying value of the MGT group of companies. We are excited about Medicsight's future, including our expectation that the company will receive U.S. and Japanese regulatory approval for its ColonCAD software in 2008. We strongly believe that upon regulatory approval Medicsight will be the leading supplier of CAD software for virtual colonoscopy screening procedures in the U.S. and Japan."

The repurchase of shares by MGT will be made from time to time in the open market on the American Stock Exchange ("AMEX") and in private transactions. The timing for repurchasing shares will be determined by MGT's broker based on its evaluation of market conditions and other factors. The Board of Directors of MGT may amend, suspend or terminate the repurchase program at any time.

Purchases may be made in open market or unsolicited negotiated transactions and shall comply with Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended. This will allow the Company to repurchase shares at times when it would ordinarily not be in the market because of the Company's trading policies or possession of material non-public information.

The repurchase program does not require the Company to acquire a specific number of shares. The share repurchases will be funded from the Company's working capital. Any shares that are repurchased under the program will be returned to the state of authorized but unissued shares of common stock.

About MGT Capital Investments, Inc.

MGT Capital Investments, Inc. is a holding company that focuses on investments in the global healthcare information technology market. The Company has two subsidiaries, Medicsight PLC and Medicexchange PLC.

Medicsight PLC (AIM: MDST) is a leading developer of computer-aided detection (CAD) software solutions. Medicsight's CAD solutions help clinicians utilizing Computed Tomography (CT) scans to identify, measure and analyze suspicious pathology within the colon and lungs. The Medicsight CAD products are validated against one of the world's largest databases of verified CT scan data collected from leading healthcare institutions from around the world. Medicsight products allow Radiologists and physicians to review scans more quickly and accurately -- saving both time and lives

Medicexchange PLC provides medical imaging professionals with a global web portal containing an online sales, jobs and information channel for diagnostic, treatment and surgery planning solutions. This combined with a variety of relevant clinical papers, training materials and content gives these professionals access to information and products that they otherwise would have difficulty accessing.

Additional information can be found at http://www.mgtci.com.

All forward-looking statements are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Forward- looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. Potential risks and uncertainties include, but are not limited to, the risks described in company filings with the Securities and Exchange Commission.

Investor & Media enquiries:

KCSA Strategic Communications

Todd Fromer / Garth Russell

Tel: +1 212-896-1215 / 212-896-1250

tfromer@kcsa.com / grussell@kcsa.com


'/>"/>
SOURCE MGT Capital Investments, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Matrixx Initiatives, Inc. to Present at the Roth Capital Partners 20th Annual OC Growth Stock Conference
2. Cardiac Science to Present at the Roth Capital Partners 20th Annual Growth Stock Conference
3. Accipiter Capital Management Reaffirms Its Opposition to the Acquisition of VistaCare, Inc. by Odyssey Healthcare, Inc.
4. Berkery Noyes Represented The Riverside Company on the Sale of HCPro Holdings, Inc. to Halyard Capital, LLC
5. MGT Capital Investments, Inc. is Delighted with the Announcement of Medicsights Commercial Agreement with Toshiba PACS Division
6. AtriCure to Present at Roth Capital Partners 20th Annual OC Conference
7. Genstar Capital Promotes J. Ryan Clark to Principal
8. MGT Capital Investments, Inc. Announces Subsidiarys Preliminary Agreement to Acquire Maydeal.com
9. 19th Annual Casino Night Benefiting the National Kidney Foundation of the National Capital Area
10. Pennsylvania Gov. Rendell: $10 Million Partnership With Harrisburg Venture Capital Firm Boosts PAs Life Sciences Industry
11. IDC Awarded Digital Radiography Contract With Beijing Capital Airport
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/8/2016)... ... ... has struggled to quit smoking, a man who has struggled with hair loss – Craig ... problems – and he did. Now Nabat, a serial entrepreneur featured as the October 2015 ... the world and better people's lives. His own experience with nicotine addiction led to the ...
(Date:2/8/2016)... ... February 08, 2016 , ... Tingley ... into Canada to provide its range of unique and advantaged protective solutions ... City that will provide bilingual customer service and marketing support. A new distribution ...
(Date:2/8/2016)... ... February 08, 2016 , ... Local insurance agency Dennis Fuller ... area, has initiated a fundraiser for a two year old little girl named ... Christmas. To support this beautiful child who is facing life’s journey without her ...
(Date:2/8/2016)... ... February 08, 2016 , ... Remember the old saying ... , According to Perry A~, author of “Calcium Bentonite Clay” the health benefits of ... in balancing and detoxifying the body. , A former motivational speaker, Perry A~ has ...
(Date:2/8/2016)... (PRWEB) , ... February 08, 2016 , ... Discover the ... visit over 1,400 booths and 700 companies. Attendees also get to see the ... Colorado Garden & Home Show , at the Colorado Convention Center - 700 ...
Breaking Medicine News(10 mins):
(Date:2/8/2016)... Feb.8, 2016 Alzheimer Diagnostic Tests - ... Medical Devices sector report , "Alzheimer Diagnostic ... an overview of Alzheimer Diagnostic Tests currently in ... on the pipeline products with comparative analysis of ... report reviews major players involved in the pipeline ...
(Date:2/8/2016)... Feb. 8, 2016 CBG Technologies, a ... Series Solvent Recycling Systems, specifically designed for precision ... with new and existing vapor degreasers, parts washers ... solvent through continuous recycling and recovers 100% of ... --> Precision parts manufacturers benefit ...
(Date:2/8/2016)... February 8, 2016 --> ... research report "Ablation Technologies Market by Product (Radiofrequency, Ultrasound, ... Management, Cosmetic Surgery, Ophthalmology, Gynecology) - Global Forecasts to ... market over the forecast period of 2015 to 2020. ... 2020, at CAGR of 10.5% from 2015 to 2020. ...
Breaking Medicine Technology: