Manhattan Bridge Capital announced that its Board of Directors has authorized a common stock repurchase plan allowing the buyback of up to 100,000 common shares in market or off-market transactions at prevailing prices over the next twelve months. The manner, timing and number of shares purchased will be at the Company’s discretion. Assaf Ran, Chairman of the Board and CEO stated, "Unfortunately the market reacted negatively to the recent news and market conditions related to our company, and our share price decreased. I strongly believe in the strength of our portfolio and I believe that the recent decline in our share price has generated an opportunity for the company to buy back its common shares at the current market price. I believe that the best investment for us right now is the investment in our own company," added Ran.
Published first on TheFly
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