Anacomp Announces Share Repurchase Program; Company Continues Equity Buyback Initiative
SAN DIEGO, Sept. 30 /PRNewswire/ -- Anacomp(R), Inc. (Nasdaq: ANCO), a world leader in digital document-management services, today announced a share repurchase program for its fiscal 2000, which begins tomorrow. The Board- approved initiative allows Anacomp to buy back up to two percent of the company's outstanding common shares per quarter and will run through September 30, 2000.
During Anacomp's fiscal year 1999, which ends today, the company repurchased 534,156 of its common shares on the open market, as well as $25 million in principal amount of its 10 7/8% senior subordinated notes due 2004.
Common shares and additional subordinated notes may be purchased on the open market at such times, and from time to time, and at such prices as the management of the company may determine, based on current prices and market conditions. The buy-backs are subject to compliance with the company's credit agreement. |
