SMIT Schmitt Industries Inc.

Schmitt Industries Announces $2M Stock Repurchase Plan

Schmitt Industries Announces $2M Stock Repurchase Plan

PORTLAND, Ore., Dec. 03, 2019 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the “Company” or “Schmitt”) today announced that its Board of Directors authorized a share repurchase plan (the “Plan”) to buy up to $2 million of its common stock. Schmitt intends to purchase shares from time to time through open market and private transactions in accordance with Securities and Exchange Commission rules. The Plan is authorized through December 16, 2020.

There is no guarantee as to the exact number of, or value of, shares that will be repurchased by Schmitt and the Company may discontinue repurchases at any time. The timing and amount of share repurchases under the Plan will depend on a number of factors, including Schmitt’s stock price performance, ongoing capital planning considerations, general market conditions, and applicable legal requirements.

About Schmitt Industries

Schmitt Industries, Inc., founded in 1987, designs, manufactures and sells high precision test and measurement products, solutions and services through its Acuity® and Xact® product lines.

Contact:

Schmitt Industries, Inc.

Michael R. Zapata

Chief Executive Officer

(503) 227-7908

EN
03/12/2019

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November 2, 2020 1 EN
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Schmitt Announces Fiscal 2020 Operating Results

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August 31, 2020 1 EN
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July 30, 2020 1 EN
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Schmitt Provides Shareholder Value Opportunity Update, Announces Dutch Tender Offer PORTLAND, Ore., June 03, 2020 (GLOBE NEWSWIRE) -- Schmitt Industries, Inc. (NASDAQ: SMIT) (the “Company” or “Schmitt”) today announced the completion of the evaluation of the previously announced strategic opportunity. Following months of discussion and analysis, the Company has decided that the opportunity would not be in the best interest of its shareholders and has ceased discussions. The Company’s Board of Directors (the “Board”) has decided to continue with its previously announced delisting from the...

June 3, 2020 1 EN
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Schmitt Announces Third Quarter 2020 Operating Results

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April 14, 2020 1 EN

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