EMERSON RADIO CORP. (NYSEMKT:MSN) Files An 8-K Other Events
Item8.01
| Other Events. |
On December19, 2016, Emerson Radio Corp. (the Company) announced
that its Board of Directors has approved the repurchase of up to
$5million of its common stock. The repurchases may be effected
from time to time at prevailing market prices, through open
market or in privately negotiated transactions, which may
include, in whole or in part, the establishment of a purchase
program to the safe harbor provided by Rule 10b5-1 under the
Securities Exchange Act of 1934, through block purchases or
through accelerated or forward or similar stock purchases.
The Company intends to run the repurchase program through the end
of the current fiscal year, unless the period is extended or
shortened by the Board of Directors. Under the program,
repurchases will be funded from available working capital and any
repurchased shares will be held as authorized but unissued shares
and will be available for general corporate purposes.
A copy of the Companys press release announcing this stock
repurchase program is attached as Exhibit 99.1 hereto and
incorporated herein by reference.
| Item9.01 | Financial Statements and Exhibits. |
| Exhibit No. | Description. | |
| 99.1 | Press release dated December19, 2016. |
About EMERSON RADIO CORP. (NYSEMKT:MSN)
Emerson Radio Corp. designs, sources, imports and markets a range of houseware and consumer electronic products. The Company also licenses its trademarks for a range of products around the world. Its product and branded categories consist of Houseware Products, which include microwave ovens and compact refrigerators; Audio Products, including clock radios, and Other, which consists of televisions, mobile and landline telephones and accessories, tablet computers and accessories, cameras and video cameras and accessories, and miscellaneous electronic and novelty products. Its product categories include bottle openers and wine coolers, microwaves, small appliances and refrigeration. Its products include bottle cooler/warmer, electric wine bottle opener, table-top electronic wine cooler, 700W microwave oven, coffee/espresso/capuccino maker and 3.1 CU.FT. compressor type compact fridge. Its trademarks include Emerson, Emerson Research, H.H. Scott, iDEA, IDIVA, Olevia, Scott and SmartSet. EMERSON RADIO CORP. (NYSEMKT:MSN) Recent Trading Information
EMERSON RADIO CORP. (NYSEMKT:MSN) closed its last trading session up +0.032 at 0.981 with 72,471 shares trading hands.