Westwood Holdings Group, Inc. : Board of Directors Authorizes Share Repurchase
07/20/2012| 03:50pm US/Eastern
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Westwood Holdings Group, Inc. (NYSE: WHG) today announced that its Board
of Directors has authorized a share repurchase of up to $10 million of
its outstanding common stock. The repurchases will occur at such times
and at such prices as management of the Company determines, and may be
effected through transactions in the open market, block trades, or
privately negotiated transactions or otherwise and are subject to market
conditions, as well as corporate, regulatory and other considerations.
This authorization supersedes a share repurchase authorized in August
2011 that was scheduled to expire on August 9, 2012. Under the prior
repurchase authorization, the Company repurchased approximately $3.5
million of its outstanding common stock. The new repurchase
authorization does not have an expiration date and may be discontinued
at any time by the Board of Directors. The Company had approximately 8
million shares of common stock outstanding as of July 19, 2012.
About Westwood
Westwood Holdings Group, Inc. provides investment management services to
institutional investors, private wealth clients and financial
intermediaries. Westwood manages a variety of investment strategies
including U.S., Global and Emerging Markets equities as well as
income-oriented portfolios. Access to these strategies is available
through separate accounts, commingled funds and the Westwood FundsTM
family of mutual funds. Westwood has significant, broad-based employee
ownership and trades on the New York Stock Exchange under the symbol
"WHG." Based in Dallas, Westwood also maintains offices in Omaha and
Toronto.
For more information on Westwood, please visit www.westwoodgroup.com.
For more information on the Westwood FundsTM, please visit www.westwoodfunds.com.
Note on Forward-looking Statements
Statements in this press release that are not purely historical facts,
including statements about our intention to repurchase shares of our
common stock from time to time, constitute forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Actual results and the timing of events could differ materially
from those contemplated by the forward-looking statements due to a
number of factors, including, without limitation, the market price of
the our stock prevailing from time to time and the other risks detailed
from time to time in Westwood's SEC filings, including but not limited
to, its annual report on Form 10-K for the year ended December 31, 2011
and its quarterly reports on Form 10-Q for the quarters ended March 31
and June 30, 2012. You are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date of
this press release. Except as required by law, Westwood is not obligated
to publicly release any revisions to these forward-looking statements to
reflect events or circumstances after the date of this press release or
to reflect the occurrence of unanticipated events.
(WHG-G)
Westwood Holdings Group, Inc.
Bill Hardcastle, 214-756-6900
© Business Wire 2012
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