PRINCETON N.J.-Intek Diversified Corp. said its board of directors has allocated $1 million for the repurchase of up to 1 percent of the company’s outstanding 42 million shares of common stock.
Intek currently has a float of about 10 million shares. The buy-back purchases will be made from time to time in the open market, through block or privately negotiated transactions as prices are favorable, said the company.
Intek provides specialized mobile radio services through its RoameR One subsidiary.
