Container company’s increase in share repurchase programme ‘reflects confidence’

Textainer Group Holdings Limited, one of the world’s largest lessors of intermodal containers, has announced its board of directors has authorised an increase to the company’s share repurchase programme of up to $25million (€22 million) of the company’s outstanding common shares. 
Olivier Ghesquiere, president and chief executive officer of Textainer, said: “The increase to our existing share repurchase program reflects our confidence in the strength of our business, financial resources and our long-term outlook.
“We remain committed to delivering value to our shareholders while maintaining a strong financial position to support the future growth of our business.”
The authorisation is effective immediately and adds to the previous $25 million (€22 million) programme, which had approximately $1million (€900,000) remaining authorised and available for repurchase as of March 27.
It said purchases under the share repurchase programme may be made from time to time through open market purchases, privately negotiated transactions or such other manners as will comply with applicable laws and regulations.
An online statement said the timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements, market conditions and other corporate liquidity requirements and priorities

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