Travelzoo Announces Share Repurchase Program

Rhea-AI Summary

Travelzoo (NASDAQ: TZOO) has announced a share buyback program, authorizing the repurchase of up to 1,000,000 shares of its common stock. This initiative will utilize available cash and will be executed in the open market, depending on Travelzoo's cash reserves and market conditions. The decision reflects the company's commitment to enhancing shareholder value and confidence in its long-term growth potential.

Positive

• Authorization for the repurchase of up to 1,000,000 shares indicates confidence in the company's financial health.
• Share buyback may enhance shareholder value by reducing the number of outstanding shares.

Negative

• None.

NEW YORK, June 23, 2022 (GLOBE NEWSWIRE) -- Travelzoo® (NASDAQ: TZOO), a global Internet media company that provides exclusive offers and experiences for members, today announced that its board of directors has authorized the repurchase of up to 1,000,000 shares of the Company's outstanding common stock.

Purchases may be made, from time to time, in the open market and will be funded from available cash. The number of shares to be purchased and the timing of purchases will be based on the level of Travelzoo's cash balances, general business and market conditions, and other factors, including alternative investment opportunities.

About Travelzoo
Travelzoo® provides its 30 million members with exclusive offers and one-of-a-kind experiences personally reviewed by our deal experts around the globe. We have our finger on the pulse of outstanding travel, entertainment, and lifestyle experiences. We work in partnership with more than 5,000 top travel suppliers—our long-standing relationships give Travelzoo members access to irresistible deals.

Travelzoo, Top 20, and Jack's Flight Club are registered trademarks of Travelzoo.

Investor Relations:
Almira Pusch
ir@travelzoo.com

FAQ

What is the purpose of Travelzoo's share buyback program?

The share buyback program aims to enhance shareholder value by reducing the number of outstanding shares.

How many shares is Travelzoo planning to repurchase?

Travelzoo plans to repurchase up to 1,000,000 shares of its common stock.

When will Travelzoo conduct its share repurchases?

Repurchases will occur over time in the open market, based on cash balances and market conditions.

How will Travelzoo fund the share buyback?

The share buyback will be funded from available cash.