A Medical Device Daily
Del Global Technologies (Franklin Park, Illinois) has suspended its stock repurchase program and associated 10b5-1 sales trading plan to free up cash for working capital.
The previously reported program authorized the company's repurchase of up to 2,424,616 shares, or approximately 10%, of the company's outstanding common stock.
Prior to the suspension of the program, a total of 1,527,859 shares of the company's common stock, with an aggregate cost of $1,560,420, had been repurchased under the plan, which allowed the company to purchase its shares at times when Del Global would not ordinarily be in the market because of its trading policies or the possession of non-public information.
Del Global makes diagnostic imaging systems for medical, dental and veterinary applications.