Spectrum Group International Inc. announces an Equity Buyback for 3,032,270 shares, for $6.37 million.
February 27, 2014 at 04:47 pm
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Spectrum Group International Inc. (OTCPK:SPGZ) announces a share repurchase program. Under the plan, the company will repurchase 3,032,270 shares at a price of $6.37 million. The company will repurchase 44,164 shares from Afinsa Bienes Tangibles, S.A. and 2,988,106 shares from Auctentia, S.L. The shares will be repurchased in cash at two closings and plus interest. The share repurchased will be returned to the status of authorized but unissued shares. The transaction will be valid till July 1, 2014.
As on February 26, 2014, the company has completed 50% of repurchase.
Spectrum Group International, Inc. is a United States-based global trading and collectibles network. The Company is a trader of precious metals and an auctioneer of coins and wine serving both collectors and dealers. The Company's collectibles offerings span the price from modest to ultra-high end. The Company also offers loans to coin dealers, collectors and investors collateralized by their precious metals, rare coins and other collectibles. The Company operates in two segments: Trading and Collectibles. Its Trading business is conducted through A-Mark Precious Metals, Inc. (A-Mark) and its subsidiaries. The Company's Collectibles business operates as an integrated network of companies concentrating on numismatic (coins), paper currency, and rare and fine vintage wine. The Company is also a merchant/dealer of certain collectibles.
SPECTRUM GROUP INTERNATIONAL, INC. 
