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The programme authorises Western to repurchase up to 500,000 shares of its common stock. The timing, price and volume of purchases are to be determined by the company's management based on market conditions, relevant securities laws and other factors.
In addition, Western also announced that the company has decided not to proceed with an exchange offer for up to 680,500 shares of Jack in the Box Inc (NYSE: JBX) at this time. Accordingly, the company said that it has filed a request with the SEC for withdrawal of the related registration statement.
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