ATLANTA, May 10, 2010 (GLOBE NEWSWIRE) -- LIGATT Security International (Pink Sheets:LGTT), a cyber security company, today announced that the company will be buying back shares on the open market and through private individuals in order to increase LSI's share price.
"Considering LIGATT is at a low stock price, we planned on buying back a significant amount of shares," says Gregory Evans, President and CEO of LIGATT Security. "However, since the stock price is lower we may consider buying back more."
Over the next three months, LSI will buy back shares in the company, however the dollar amount and the number of shares have not been determined as of yet. The buy back will begin the first week in June after LSI completes the process of hiring a brokerage service, who will manage the buy back.
"Our dividend and capital management decisions are made to maximize shareholder returns while maintaining sufficient capital," comments Evans.
In January 2010, it was voted on and passed that LSI would conduct a roll back of the stock, however the company has not done so at this point in time. Although LSI's shareholders voted on a reverse split, before implementing a roll back, the company will try to increase the share price by performing a buy back of the stock.
LSI is the nation's premier hi-tech security company and recognized as a leader in computer security and cyber-crime investigation. It is a publicly traded company whose mission is to be the nation's leading provider of hi-tech crime investigations, by protecting their clients against Black Hat Hacking one CPU at a time.
For additional information about LIGATT Security International visit www.ligatt.com.
***This press release was done in-house by a LIGATT Security International staff member. LIGATT Security International never has and never will use stock promoters, or outside Investor Relations firms.***
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.