Helix intends to purchase up to 1.5 million shares of the Company's common stock as permitted by the Company's principal credit facility.
The Company's Board of Directors has previously granted the Company the authority to repurchase shares of its common stock in an amount equal to any equity grants pursuant to the Company's equity compensation plans. The Company may continue to make purchases pursuant to this authority from time to time as additional equity grants are made under such plans.
The size, scope and timing of any purchases will be based on business, market and other conditions and factors, including price, regulatory and contractual requirements or consents, and capital availability. The 1.5 million shares to be repurchased reflect prior equity awards made by the Company.
The share repurchase program is intended to be implemented through purchases made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or block trades, or by any combination of such methods, in accordance with applicable insider trading and other securities laws and regulations.
The repurchase program does not require the Company to acquire any particular amount of common stock, and the program may be suspended, modified or discontinued at any time at the Company's discretion without prior notice. Shares of stock repurchased under the program will be cancelled.
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