Key Developments For Peerless Systems Corp
Peerless Systems Corp (PRLS.O) (Consolidated Issue listed on NASDAQ Capital Market)
Peerless Systems Corporation Announces Expansion of Stock Repurchase Program
Peerless Systems Corporation announced that the Company's Board of Directors authorized the expansion of its stock repurchase program, in accordance with a written plan adopted pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934. Under the existing plan, the Company was authorized to repurchase up to 2,000,000 shares of its common stock. Since the repurchase plan was enacted by the Board in July 2008, the Company has repurchased 1,830,443 shares for an aggregate consideration of $3,377,354, effectively returning capital to stockholders and increasing stockholder value. The Board of Directors has now authorized the Company to purchase an additional 2,000,000 shares.
Peerless Systems Corporation Announces Resingation of Richard L. Roll As Chief Executive Officer and President-Form 8-K
Peerless Systems Corporation announced in its Form 8-K that Richard L. Roll entered into a Severance Agreement pursuant to which he resigned as Chief Executive Officer, President and Director of the Company effective October 1, 2008.
Adobe Systems Amends Terms Of Agreement With Peerless Systems Corporation
Peerless Systems Corporation announced that Adobe Systems has agreed to amend the terms of the PostScript Software Development License and Sublicense Agreement that it entered into with Peerless on July 23, 1999. Although the Agreement will not be renewed beyond June 30, 2008, the Agreement Amendment allows Peerless to (a) continue licensing Adobe's PostScript page description language, as part of products existing as of June 30, 2008, through the commercial life of these existing products, and (b) license Adobe's PostScript page description language, through March 2010, to Peerless' OEM customers for development of follow on products to existing products, or for the development of new products that were in the development or proposal stage as of June 30, 2008, with continued distribution rights of these new or follow on products beyond March 30, 2010 for the commercial life of these products provided, in each case continued compliance with the terms of the Agreement.
Peerless Systems Corporation Announces Share Buyback Program
Peerless Systems Corporation announced that the Company's Board of Directors has authorized the repurchase of up to two million shares of common stock.
Peerless Systems Corporation Announces Resignation Of Chief Financial Officer
Peerless Systems Corporation announced in its Form 8-K that effective July 11, 2008, John Rigali resigned from his position as Chief Financial Officer. The Company appointed William Neil as its Chief Financial Officer effective July 12, 2008.
