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ReachLocal Inc Announces Increase Of Share Repurchase Program

Monday, 4 Mar 2013 06:30am EST 

ReachLocal Inc announced that Board of Directors has amended previously announced share repurchase program to increase the total authorized repurchase amount by $21 million, to a total authorization of $47 million. With this amendment, the remaining amount available for repurchase of ReachLocal's common stock under the repurchase program is approximately $30 million. Purchases will be made from time-to-time in open market or privately negotiated transactions as determined by ReachLocal's management. The amount and timing of the share repurchase will depend on business and market conditions, stock price, trading restrictions, acquisition activity, and other factors. The repurchase program does not obligate ReachLocal to acquire any particular amount of common stock, and the repurchase program may be suspended or discontinued at any time at ReachLocal's discretion. 

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