VANCOUVER, Dec. 10, 2012 /CNW/ - Destiny Media Technologies (TSXV: DSY)
(OTCQX: DSNY) is pleased to announce a new share repurchase program.
The board of directors has authorized a program to repurchase up to 1
million shares of the company's common stock at a maximum share
purchase price of $1.00 per share. The repurchases will be at times and
in amounts as the company deems appropriate and will be made through
open market transactions on US exchanges. All repurchases will be made
in compliance with the Securities and Exchange Commission's Rule
10b-18, subject to market conditions, applicable legal requirements and
other factors. The board approved stock repurchase program runs through
May 31st, 2013. In addition to the applicable securities laws, the
company will not make any purchases during a time at which its insiders
are subject to a blackout from trading in the company's common shares.
Under the previous plan, which expired June 30th, 2012, the company
repurchased and canceled a total of 2,155,895 shares.
About Destiny Media Technologies, Inc.
Universal, EMI, Warner, Sony and one thousand other labels use Destiny's
secure distribution service to deliver most of their pre-release music
to radio, online retail, DJ's, sports stadiums, journalists and VIP.
Destiny's instant play streaming includes internet radio, internet TV,
online surveys and new cloud and mobile offerings. Patents include
watermarking, peer to peer locking and pending cross platform
playerless streaming video.
SOURCE: Destiny Media Technologies, Inc.
For further information:
CEO Destiny Media Technologies, Inc.
604 609 7736 x222