TransAct Technologies Inc. in Hamden says it will buy back as many as 150,000 shares of common stock between now and mid-summer.
The maker of electronic coupon printers attached to point-of-sale terminals and slot machines says its board had previously authorized spending up to $9.8 million to purchase its shares through May 27, 2013.
However, the company filed a 10b5-1 plan clearing it to purchase up to 150,000 shares, effective from Wednesday until July 29, 2011.
A plan under Rule 10b5-1 allows a company to repurchase its shares at times when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods, TransAct said.
In February, Foxwoods Resorts quadrupling its pilot order – to 1,100 units — to install TransAct promotional-coupon printers on slot machines to keep players gambling longer and boost visits to the resort’s other attractions.
In late morning trading, TransAct shares were down 8 cents at $10.34.
