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EX-99.2 - EX-99.2 - National American University Holdings, Inc. | c24270exv99w2.htm |
EX-99.1 - EXHIBIT 99.1 - National American University Holdings, Inc. | c24270exv99w1.htm |
8-K - FORM 8-K - National American University Holdings, Inc. | c24270e8vk.htm |
Exhibit 99.3
National American University Holdings, Inc. Announces Stock Repurchase Plan of
Up to $10 Million of Common Stock
Up to $10 Million of Common Stock
Rapid City, South Dakota, November 4, 2011 National American University Holdings, Inc. (the
Company) (NASDAQ: NAUH), which through its wholly owned subsidiary operates National American
University (NAU), a regionally accredited, proprietary, multi-campus institution of higher
learning, today announced approval of a stock repurchase program.
On October 31, 2011, the Companys Board of Directors authorized a stock repurchase plan of up to
$10 million of common stock in both open market and privately negotiated transactions. The timing
and actual number of shares purchased will depend on a variety of factors such as price, corporate
and regulatory requirements, and other prevailing market conditions. The plan has not been assigned
a predetermined date of expiration, but may be limited or terminated without prior notice.
Ronald L. Shape, Ed.D., Chief Executive Officer of the Company, commented, Following the
completion of the previously authorized $10 million stock repurchase plan in the fiscal 2011 third
quarter, we believe the decision by our Board of Directors to commit an additional $10 million
toward a new repurchase plan demonstrates our continued shared confidence in the long-term
prospects of our business and industry. At August 31, 2011, we reported cash and cash equivalents
and investments of $43.7 million and no long-term debt. In light of these factors, we believe that
this plan is both a prudent use of capital and an additional opportunity to create long-term value
for our stockholders.
About National American University Holdings, Inc.
National American University Holdings, Inc., through its wholly owned subsidiary, operates National
American University (NAU), a regionally accredited, proprietary, multi-campus institution of
higher learning offering associate, bachelors, and masters degree programs in health care and
business-related disciplines. Accredited by The Higher Learning Commission and a member of the
North Central Association of Colleges and Schools, NAU has been providing technical and
professional career education since 1941. NAU opened its first campus in Rapid City, South Dakota,
and has since grown to multiple locations throughout the central United States. In 1998, National
American University began offering online courses. Today, NAU offers degree programs in
traditional, online, and hybrid formats, which provides students increased flexibility to take
courses at times and places convenient to their busy lifestyles.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 regarding the Companys business. Statements made in this
release, other than those concerning historical financial information, may be considered
forward-looking statements, which speak only as of the date of this release and are based on
current beliefs and expectations and involve a number of assumptions. These forward-looking
statements include outlooks or expectations for earnings, revenues, expenses or other future
financial or business performance, strategies or expectations, or the impact of legal or regulatory
matters on business, results of operations or financial condition. Specifically, forward-looking
statements may include statements relating to the future financial performance of the Company; the
ability to continue to receive Title IV funds; the growth of the market for the Companys services;
expansion plans and opportunities; consolidation in the market for the Companys services
generally; and other statements preceded by, followed by or that include the words estimate,
plan, project, forecast, intend, expect, anticipate, believe, seek, target or
similar expressions. These forward-looking statements involve a number of known and unknown risks
and uncertainties or other assumptions that may cause actual results or performance to be
materially different from those expressed or implied by those forward-looking statements. Other
factors that could cause the Companys results to differ materially from those contained in its
forward-looking statements are included under, among others, the heading Risk Factors in the
Companys Annual Report on Form 10-K filed on August 5, 2011 and in its other filings with the
Securities and Exchange Commission. Any forward-looking statements made by the Company speak only
as of the date on which they are made. The Company is under no obligation to, and expressly
disclaims any obligation to, update or alter its forward-looking statements, whether as a result of
new information, subsequent events or otherwise.
Contact Information:
National American University Holdings, Inc.
Dr. Ronald Shape
605-721-5220
rshape@national.edu
National American University Holdings, Inc.
Dr. Ronald Shape
605-721-5220
rshape@national.edu
Investor Relations Counsel |
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The Equity Group Inc. |
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Adam Prior
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Carolyne Yu | |
212-836-9606
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212-836-9610 | |
aprior@equityny.com
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cyu@equityny.com |