Vortex Resources today announced that it is adopting a share repurchase program. The Company’s Board of Directors decided on the program in light of the depressed value of Vortex’s market price.
According to the press release, the program was designated to repurchase, at management’s discretion, up to 10,000,000 shares of common stock in the open market through December 31, 2009.
The company stated that the repurchases will be made using cash resources and will be in accordance with Rule 10b-18 under the Securities Exchange Act of 1934 and other applicable laws, rules and regulations.
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