World Acceptance given go-ahead to repurchase up to $10 million of 3% convertibles

By Angela McDaniels

Tacoma, Wash., May 12 - World Acceptance Corp. said its board of directors authorized it to repurchase up to an additional $5 million of its 3% convertible senior subordinated notes due 2011.

The authorization was granted Monday and increased the principal amount of convertibles the company can repurchase to $10 million, according to an 8-K filing with the Securities and Exchange Commission.

As previously reported, the company repurchased and canceled $5 million of the convertibles in December.

World Acceptance is a small-loan consumer finance company based in Greenville, S.C.

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