Novell Announces $200 Million Share Repurchase Program
Share:
WALTHAM, Mass. -- Sept. 22, 2005 -- Novell, Inc. (NASDAQ: NOVL) today
announced that its board of directors has approved a share repurchase
program for up to $200 million of Novell common stock over the next 12
months.
Repurchases will be made from time to time on the open market at the
discretion of management based on management's evaluation of market
conditions and other factors. Repurchases may also be made under a Rule
10b5-1 plan. Such a plan would permit Novell to repurchase shares when
it might otherwise be precluded by insider trading laws, provided that
Novell enters into the plan at a time when it is not in possession of
material, non-public information and satisfies certain other conditions.
The repurchase program may be suspended or discontinued at any time.
Jack Messman, Novell's chairman and chief executive officer, said, "Our
stock buyback is just one of the elements of a plan aimed at enhancing
shareholder value and securing Novell's future as an important provider
of solutions to the IT market. The buyback demonstrates the Board and
management's confidence in our financial strength and strategic plan."
About Novell
Novell, Inc. (Nasdaq: NOVL) delivers software for the open enterprise.
With more than 50,000 customers in 43 countries, Novell helps customers
manage, simplify, secure and integrate their technology environments by
leveraging best-of-breed, open standards-based software. With over 20
years of experience, Novell's 6,000 employees, 5,000 partners and
support centers around the world help customers gain control over their
IT operating environment while reducing cost. More information about
Novell can be found at www.novell.com.
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Novell is a registered trademark of Novell, Inc. in the United States
and other countries. All third-party trademarks are the property of
their respective owners.
Press Contact:
Kevan Barney
Novell
(801) 861-2931
kbarney@novell.com
Investor Relations Contact:
Bill Smith
Novell
(800) 317-3195
wsmith@novell.com
