Interval Leisure Group (Nasdaq: IILG) ("ILG") today announced that its
Board of Directors has authorized a stock repurchase program that
enables ILG to purchase up to $20 million of its common stock. ILG has
completed purchases under its prior authorization.
The amount and timing of specific repurchases are subject to market
conditions, applicable legal requirements and other factors. Repurchases
may be conducted in the open market or through privately negotiated
transactions. This program may be modified, suspended or terminated by
Interval Leisure Group at any time without notice.
About Interval Leisure Group
Interval Leisure Group (ILG) is a leading global provider of membership
and leisure services to the vacation industry. Headquartered in Miami,
Florida, ILG has approximately 5,000 employees worldwide. The company’s
Membership and Exchange segment offers leisure and travel-related
products and services to about 2 million member families who are
enrolled in various programs. Interval International, the segment’s
principal business, has been a leader in vacation ownership exchange
since 1976. With offices in 16 countries, it operates the Interval
network of nearly 2,900 resorts in more than 80 nations. ILG delivers
additional opportunities for vacation ownership exchange through its
Trading Places International (TPI) network. ILG’s Management and Rental
segment includes Aston Hotels & Resorts, Aqua Hospitality, VRI Europe
(VRIE), Vacation Resorts International (VRI), and TPI. These businesses
provide hotel, condominium resort, timeshare resort, homeowners’
association and club management, as well as rental services, to
travelers and owners at approximately 250 vacation properties, resorts,
and club locations throughout North America and Europe. More information
about the company is available at www.iilg.com.
Forward-Looking Statements
The press release contains forward-looking statements within the meaning
of the Section 21E of the Securities Exchange Act of 1934, as amended,
relating to our future financial performance, our business prospects and
strategy, anticipated financial position, liquidity and capital needs
and other similar matters. These forward-looking statements are based on
management’s current expectations and assumptions about future events,
which are inherently subject to uncertainties, risks and changes in
circumstances that are difficult to predict. The forward-looking
statements are subject to the limitations and qualifications set forth
in the press release as well as in ILG’s other documents filed with the
SEC, including, without limitation, that actual events and/or results
may differ materially from those projected in such forward-looking
statements. The authorization of the stock repurchase program is not a
guarantee that any or all shares authorized for repurchase will be
repurchased under the program. The ability of ILG to repurchase shares
of common stock will depend on a number of factors, including future
financial condition and compliance with the terms of its debt agreements.
Copyright Business Wire 2014