Brightpoint Announces Update on Share Repurchase Program

(PressMethod) - Brightpoint, Inc. (Nasdaq:CELL - News) today announced that the Company's board of directors has approved the increase of its previously announced share repurchase plan by $30 million, allowing aggregate share repurchases of up to $80 million. Because the Company has already completed $18,000,000 of share repurchases already under the share repurchase program, it may utilize up to an additional $62,000,000 for share repurchases ("Amended Stock Repurchase Program").



The Company has entered into an agreement with Partner Escrow Holding A/S, an affiliate of NC Telecom Holding A/S (f/k/a Dangaard Holding A/S) for the purchase of 9,187,164 shares at $6.20 per share. The closing is anticipated to occur on or about January 15, 2010. In addition, Brightpoint granted a put option on up to 812,836 shares exercisable by certain individuals within 2 days at $6.20 per share ("Option Shares"). If the entire amount of the Option Shares is exercised, the Company will have completed the entire $62,000,000 available for share repurchases under Amended Stock Repurchase Program.

CONTACT INFORMATION

Email Us

http://

###

Disclaimer: If you have any questions regarding information in these press releases please contact the company listed in the press release. Please do not contact PressMethod. We will be unable to assist you with your inquiry. PressMethod disclaims any content contained in these release.