April 17, 2018 / 3:50 PM / 5 months ago

BRIEF-IDT says Chairman Jonas To Buy 2.5 Mln Shares of Class B Stock

April 17 (Reuters) - IDT Corp:

* IDT CORP - HOWARD JONAS HAS AGREED TO PURCHASE 2.5 MILLION SHARES OF CLASS B COMMON STOCK AT A PRICE PER SHARE OF $5.89

* IDT CORP SAYS JONAS WILL PAY $1.5 MILLION OF PURCHASE PRICE WITHIN 10 DAYS OF EXECUTION OF DEFINITIVE AGREEMENT - SEC FILING

* IDT CORP SAYS HAS AGREED TO PRESENT SHARES SALE MATTER TO ITS STOCKHOLDERS AT NEXT STOCKHOLDERS MEETING

* IDT CORP SAYS REMAINDER OF PURCHASE PRICE WILL BE PAYABLE BY JONAS POST STOCKHOLDERS APPROVAL & SHARES WILL BE ISSUED UPON PAYMENT OF IN FULL

* IDT CORP - BOARD APPROVED ARRANGEMENT WITH CHAIRMAN JONAS RELATED TO PURCHASE OF SHARES OF CLASS B COMMON STOCK BY HIM Source text : (bit.ly/2H6H3pD) Further company coverage:

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