Steiner Leisure Ltd received the approval of a new share repurchase plan, under which up to one and one-half million Steiner Leisure common shares would be purchased.
This new repurchase authorization is in addition to the approximately 300,000 shares that remain authorized to be purchased under the 1,000,000 share repurchase plan adopted by the Steiner Leisure Board in June 2006.
Under the new share repurchase plan, Steiner Leisure may purchase shares from time to time, at prevailing prices in open market, and possibly other, transactions, subject to market conditions and compliance with certain financial parameters. We cannot provide assurance as to the exact number of shares that will be repurchased under this plan.
Steiner Leisure Limited is a worldwide provider of spa services. The Company's operations include spas and salons on 131 cruise ships, and in 52 resort spas and two luxury day spas.
Our cruise line and land-based resort customers include Carnival Cruise Lines, Caesars Entertainment, Celebrity Cruises, Crystal Cruises, Cunard/Seabourn Cruise Lines, Hilton Hotels, Holland America Line, Kerzner International, Marriott Hotels, Norwegian Cruise Lines, Princess Cruises and Royal Caribbean Cruises.
Our Elemis Limited subsidiary manufactures its Elemis® brand products for use in our cruise ship and land-based spas. This top quality European line of beauty products is also distributed worldwide to exclusive hotels, salons, health clubs, department stores and destination spas.