Silicon Storage Technology, Inc (SSTI) Announces $30 Million Share Repurchase Program
Silicon Storage Technology, Inc (SSTI), a leader in flash memory technology, announced that the company's Board of Directors has authorized management to repurchase up to $30 million of SST's common stock. Repurchases under the new program will be made in open market or under privately negotiated transactions in compliance with Securities and Exchange Commission Rule 10b-18. Furthermore, SSTI's repurchase program will still be subject to market conditions, applicable legal requirements and other factors. SST expects to use cash and assets on hand to fund the repurchases. This program does not obligate SST to acquire shares at any particular price per…