TSER Share BuyBack News:
(BSNS WIRE) eTravelserve.com Completes Buyback of 1,200,000 Free Trading Sh
eTravelserve.com Completes Buyback of 1,200,000 Free Trading Shares
Business Editors/Technology Writers
BOCA RATON, Fla.--(BUSINESS WIRE)--May 11, 2000--Paul Johnson,
President/CEO of eTravelserve.com, Inc., www.etravelserve.com,
(OTCBB:TSER), announced today that the company has negotiated with
certain investors to buy back approximately 1.2 million free trading
shares.
"This buyback will benefit the shareholders by increasing the
percentage of their holdings. A group of previous shareholders where
holding restricted shares that have recently become eligible for free
trading and had filed their 144 `planned sale' documentation. When the
company saw the `planned sale' filings, we felt it better to negotiate
with the investors rather than have a large overhang while the company
began positioning itself for the move to NASDAQ Small Cap or National
market. The first of these agreements have been reached, which will
result in a retirement of approximately 1.2 million free trading
shares representing approximately 12% of the outstanding float. The
company also felt that that negotiating with the shareholders at this
time was opportune because the company believes that the current share
price is undervalued comparative to other companies in the sector,"
said Johnson.
eTravelserve.com has also initiated an enhanced shareholder
relations program, which offers an "Investor Update Call", which is
recorded on the 15th and last day of every month. The recorded call
will include information and updates concerning eTravelserve.com and
can be accessed at 1-877-213-9653 and entering code 2193973. The
company also offers an "email alert" which allows individuals to
register on the eTravelserve.com web site and have press releases and
investor update information automatically forwarded to their email
address when they are announced.
FOR SHAREHOLDER INFORMATION CALL STOCKBROKER RELATIONS AT
1-800-546-7950
Information in this press release contains "forward-looking
statements." These statements involve risks and uncertainties that
could cause actual results to differ materially. There is no assurance
the above-described events will be completed. There can be no
assurance of the ability of the company to achieve sales goals, obtain
contracts or financing, consummate acquisitions or achieve
profitability in the future. The above and additional factors are
discussed in detail in the Company's filings with the S.E.C.
--30--jd/mi*
CONTACT: eTravelserve.com, Inc., Boca Raton
Paul Johnson, CEO, 954/571-9856
www.etravelserve.com
KEYWORD: FLORIDA
INDUSTRY KEYWORD: INTERNET E-COMMERCE TRAVEL
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: www.businesswire.com
*** end of story *** |
