Nu Skin Enterprises Announces $25 Million Stock Repurchase Transaction
PROVO, Utah, Nov. 8 /PRNewswire-FirstCall/ -- Nu Skin Enterprises, Inc. (NYSE: NUS) today reported that it has executed an agreement to purchase $25 million of its common stock from investment firm J.P. Morgan Chase Bank, N.A. using an accelerated share repurchase program. The stock repurchase follows the recent decision by the company's board of directors to increase the share repurchase authorization by $100 million.
"The repurchase of our stock reflects the optimism we have in our 2008 business plan presented earlier this week," said Truman Hunt, president and chief executive officer. "We remain committed to using our financial strength to benefit our shareholders."
Under the repurchase agreement, approximately 1.3 million shares will be delivered to Nu Skin Enterprises. The final total of shares to be delivered is based on the difference between the initial purchase price per share and the volume weighted average trading price of the company's common stock, minus a set discount, during a period of up to approximately 90 days.
The Company
Nu Skin Enterprises, Inc. is a global direct selling company operating in more than 40 markets throughout Asia, the Americas and Europe. The company markets premium-quality personal care products under the Nu Skin(R) brand, science-based nutritional supplements under the Pharmanex(R) brand, and technology-based products and services under the Big Planet(R) brand. Nu Skin Enterprises is traded on the New York Stock Exchange under the symbol "NUS."
Nu Skin Enterprises' press releases are available online at http://www.nuskinenterprises.com.
Please note: This press release contains forward-looking statements that represent the company's current expectations and beliefs, including, among other things, the company's optimism for the 2008 business plan. The forward-looking statements involve risks and uncertainties that could cause actual results and outcomes to differ materially from any forward-looking statements or views expressed herein. These risks and uncertainties include, but are not limited to, any inability to effectively execute on the company's business plans or strategies and unanticipated events or expenses, among other factors. The forward-looking statements contained herein are further qualified by a detailed discussion of associated risks set forth in the documents filed by the company with the Securities and Exchange Commission, including the company's most recent Form 10-K and Forms 10-Q. The forward-looking statements set forth the company's beliefs as of the date of this release, and the company assumes no duty to update the forward-looking statements contained in this release to reflect any change, except as required by law.
SOURCE Nu Skin Enterprises, Inc.
11/08/2007
CONTACT: investors, Scott Pond, +1-801-345-2657, spond@nuskin.com, or
media, Kara Schneck, +1-801-345-2116, kschneck@nuskin.com, both of Nu Skin
Enterprises, Inc.
Web site: http://www.nuskinenterprises.com
(NUS)