CHICAGO, Feb. 13 /PRNewswire-FirstCall/ -- The Female Health Company (NYSE Alternext: FHC) announced today that its stock repurchase program has been expanded to 3,000,000 shares and extended until December 31, 2010. The program was initiated in January 2007 to repurchase up to 1,000,000 shares of the Company's common stock through December 31, 2008. In April 2008, the program was expanded to 2,000,000 shares and extended until December 31, 2009. Through January 31, 2009, the Company had repurchased nearly 1.6 million shares of its common stock for approximately $4.7 million under this program.
The Company's Board of Directors approved the program expansion and extension because it believes the market has undervalued its stock and that repurchasing it is a good use of surplus cash.
The shares may be purchased from time to time in open market transactions or negotiated transactions at the Company's discretion, subject to market conditions and other factors, including regulatory considerations.
About The Female Health Company
The Female Health Company, based in Chicago, Illinois, manufactures and markets the FC Female Condom(R), (FC1) and the FC2 Female Condom (FC2), which are primarily distributed by public health organizations and donor groups in over 90 developing countries around the world. Globally, the Female Condoms are available in various programs in 116 countries. The Company owns certain worldwide rights to the FC Female Condom(R), including patents that have been issued in the United States, United Kingdom, Japan, France, Italy, Germany, Spain, the European Patent Convention, the People's Republic of China, Canada, South Korea and Australia. The FC Female Condom(R) is the only available FDA-approved product controlled by a woman that offers dual protection against sexually transmitted diseases, including HIV/AIDS, and unintended pregnancy.
|SOURCE The Female Health Company|
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