SAN FRANCISCO--(BUSINESS WIRE)--JMP Group LLC (NYSE: JMP), an investment banking and alternative asset management firm, announced today that its board of directors has extended the term of the company’s share repurchase program through June 30, 2019.
The current repurchase program was initially authorized on December 13, 2017, and allowed for the repurchase of up to one million of JMP Group’s outstanding common shares during 2018. On December 3, 2018, the company’s board of directors extended the repurchase program through April 30, 2019. As of the close of the market on April 18, 2019, 132,395 of the company’s common shares remained to be repurchased. With the further extension of the existing program, those shares are now eligible to be repurchased through June 30, 2019.
Under the company’s repurchase program, JMP Group may purchase its common shares from time to time in the open market or through privately negotiated transactions. The timing, volume and nature of any common share repurchases will be at the sole discretion of management, will be dependent on market conditions, applicable securities laws and other factors, and may be suspended or discontinued at any time.
About JMP Group
JMP Group LLC is a diversified capital markets firm that provides investment banking, equity research, and sales and trading services to corporate and institutional clients as well as alternative asset management products and services to institutional and high-net-worth investors. JMP Group conducts its investment banking and research, sales and trading activities through JMP Securities; its hedge fund, venture capital and private capital activities through Harvest Capital Strategies and JMP Asset Management; and the management of Harvest Capital Credit Corporation (NASDAQ: HCAP), a business development company, through HCAP Advisors. For more information, visit www.jmpg.com.