Natural Health Repurchases Shares from George K. Broady Family for $5.9M

Natural Health announced that it has entered into an agreement to repurchase all of the shares of the company's common stock beneficially owned by the George K. Broady family in a negotiated transaction. The transaction was reviewed and approved by a special committee of the company's board of directors. Prior to the transaction, the George K. Broady 2012 Irrevocable Trust and the Eleanor Jane Broady 2012 Irrevocable Trust collectively held 2,935,227 shares of the company's stock, representing approximately 25.5% of the company's outstanding shares. The company has repurchased these shares for an aggregate purchase price of approximately $5.9M, or $2.00 per share, funded from existing cash on hand. Following completion of the transaction, the Company will have 8,577,848 shares of common stock outstanding. The repurchase was effected pursuant to the company's previously announced $70M share repurchase program. After giving effect to this transaction, the company expects to have approximately $16M remaining available for future repurchases under the program, inclusive of related estimated income tax. As a result of the reduced share count, the company expects annual dividend requirements will decline by approximately $1.2M, based on the current dividend rate.