PTCH - ANCHO CUCAMONGA, Calif.--(BUSINESS WIRE)--Dec. 14, 1999--Pacer
Technology (Nasdaq:PTCH) announced that its board of directors has
authorized a program for repurchases of up to 10 percent of Pacer's
outstanding common stock.
Shares purchased under this program are to be used to provide
shares for employer equity compensation plans. The stock repurchase
program will be put into effect within the next 30 days.
Share repurchases by the company may be made from time to time in
the open market or in block purchases and in private transactions in
compliance with Securities and Exchange Commission rules and
guidelines.
"We believe that the buy-back of our shares is an attractive
opportunity for the company and is a good investment of corporate
funds and is in the best interests of our shareholders," stated Tom
Nightingale, Pacer's president and chief executive officer.
Pacer Technology is a world-class manufacturer, packaging and
distribution company engaged in marketing advanced technology
adhesives, sealants and related products, as well as manicure
implements for consumer markets on a worldwide basis. It is the
provider of SUPER GLUE(R), ZAP(R), PRO SEAL(R), Cook Bates(R), Diamon
Deb(R)/Kurlash(R) and Gem(R), and other well-known branded products.
This document contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. In
addition, from time to time, Pacer Technology, or its representatives,
have made or may make forward-looking statements, orally or in
writing. The words "estimate," "project," "potential," "intended,"
"expect," "believe," and similar expressions or words, are intended to
identify forward-looking statements. Such forward-looking statements
may be included in, but are not limited to, various filings made by
the company with the Securities and Exchange Commission, news releases
or oral statements made with the approval of an authorized executive
officer of the company. Actual results could differ materially from
those projected or suggested in any forward-looking statements as a
result of a wide variety of factors and conditions. Reference is
hereby made to the company's Annual Report on Form 10-K for the fiscal
year ended June 30, 1999, for information regarding those factors and
conditions.
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CONTACT: Pacer Technology
W.T. Nightingale III, 909/987-0550
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