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The repurchase, which was executed over the last few weeks, is a part of the company's previously authorized stock repurchase plan of up to 3 million shares of the company's Class B common stock.
NASDAQ: SYBT), parent company of Stock Yards Bank & Trust Company, with offices in the Louisville metropolitan area, Indianapolis and Cincinnati, today announced that, as part of its currently authorized stock repurchase program, the Company has established a Rule 10b5-1 stock trading plan.
As part of a previously authorized stock repurchase program, the Company is also currently permitted to purchase approximately an additional $198 million of its shares of Class A Common Stock, subject to market conditions.
The January 3rd amendment also provides that the authorized common shares be increased upon the close of the merger from 750,000,000 to 1,500,000,000 to provide authorized stock that is available to the Company to pursue acquisitions that have been identified as part of its growing acquisition pipeline.
As part of a previously authorized stock repurchase program, the Company is also currently permitted to purchase approximately an additional $32 million of its shares of Class A Common Stock, subject to market conditions.
The transaction will be effective immediately upon ratification of Positron Corporation's increase of its authorized stock.

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