COMPUTER TASK GROUP, INCORPORATED (NASDAQ:CTG) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01Entry into a Material Definitive Agreement.
On November 16, 2016, Computer Task Group, Incorporated (CTG)
entered into a Second Amendment to its Credit Agreement with
Keybank National Association as administrative agent for the
Lenders as defined in said Credit Agreement.The Amendment amends
Section 5.15(b) of the Credit Agreement by permitting CTG to
repurchase up to Ten Million Dollars ($10,000,000.00) of its
common stock over the remaining life of the Credit Agreement.The
foregoing summary is qualified in all respects by reference to
the complete terms of the Amendment, a copy of which is filed
with this Form 8-K as Exhibit 10.1
Item 7.01 Regulation FD Disclosure.
On November 17, 2016, the Company issued a Press Release
announcing that its Board of Directors has authorized the Company
to repurchase up to $10 million of its outstanding shares over
the remaining life of the Credit Agreement and the suspension of
the Companys cash dividend.The Press Release is attached to this
report as Exhibit 99.1
Item 9.01 Financial Statements and Exhibits.
(d) |
Exhibits |
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| 10.1 |
Second Amendment dated November 16, 2016 to Credit Agreement with Keybank National Association as administrative agent for the Lenders as defined in the Credit Agreement. |
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| 99.1 |
Press Release entitled CTG Announces $10 Million Repurchase Authorization. |
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