AVG Technologies N.V. (AVG) said Thursday that it has adopted a share repurchase program under which it plans to repurchase shares to cover its obligations to deliver shares under its employee stock options incentive and restricted share units plans.
Under the share repurchase program AVG may, between May 9, 2013 and November 9, 2014, repurchase from time to time in both open market and privately negotiated transactions up to 2.5 million ordinary shares.
"Our significant cash flow from operations provides the flexibility to invest in our business, undertake acquisitions and initiate a share repurchase program", said John Little, AVG's Chief Financial Officer.
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