e American Materials & Technologies Corporation (Nasdaq) Reports
Sale of Stock By Palomar Medical Technologies, Inc.
LOS ANGELES, April 13 /PRNewswire/ -- THE AMERICAN MATERIALS & TECHNOLOGIES CORPORATION
(Nasdaq: AMTK; PCX: MTK) announced today that Palomar Medical Technologies, Inc. (Nasdaq: PMTI - news) has sold
over 500,000 shares of AMTK common stock, representing substantially all of the free trading shares owned or controlled by
Palomar.
In connection with this open market transaction, 128,000 shares were purchased by AMTK's senior management, including
70,000 shares purchased by Paul W. Pendorf, president and chief executive officer. Mr. Pendorf increased his beneficial
ownership to 15%. The Company has approximately 4.4 million shares outstanding.
''We are happy to welcome approximately 100 new shareholders to the AMTK family,'' said Mr. Pendorf. He continued,
''We are pleased that our senior managers were able to increase their ownership in AMTK.''
Through its subsidiaries, The American Materials & Technologies Corporation manufactures and markets advanced
composite materials for customers in the aerospace, defense, transportation, communication, spotting goods, and other
industries. Products include fabrics, tapes and parts made from graphite, fiberglass, aramid, quartz and other fibers
impregnated with proprietary resin formulations, with special emphasis on high temperature applications, aircraft interiors and
high performance golf club shafts. |
