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 authorized the repurchase of up to
one million of the company's outstanding common shares during 2018.
As of the close of the market on December 12, 2017, 631,844 of the
company's common shares were eligible for repurchase through year-end
under the board's previous authorization. After December 31, 2017, any
shares not repurchased under that authorization will no longer be
eligible for repurchase, and the new, 2018 authorization announced
herein will take effect.
Under the 2018 share repurchase program, the company 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.
Since its initial public offering in May 2007, the company, together
with its predecessor, JMP Group Inc., has repurchased a total of
approximately 6.9 million common shares at an aggregate cost of
approximately $44.4 million. JMP Group Inc. became a wholly owned
subsidiary of JMP Group LLC as a result of a corporate reorganization in
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
and private capital, and credit management activities though Harvest
Capital Strategies, JMP Asset Management and JMP Credit Advisors; and
the management of Harvest Capital Credit Corporation (NASDAQ: HCAP), a
business development company, through HCAP Advisors. For more
information, visit www.jmpg.com.
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Investor Relations Contact
JMP Group LLC
Dukas Linden Public Relations, Inc.
Source: JMP Group LLC
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