Turbodyne Technologies Inc. (TRBDF) Message Board

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Technology Stocks : Turbodyne Technologies Inc. (TRBDF)

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To: current trend who wrote (1982)	9/17/1998 6:09:00 AM
From: current trend	Read Replies (2) of 3458

Turbodyne Announces Share Buy-Back Plan Woodland Hills, CA - September 17, 1998 - Turbodyne Technologies Inc. (NASDAQ: TRBD, EASDAQ: TRBD) announced today that its board of directors has authorized the company to buy up to $3.5 million of its shares of common stock. The Company has approximately 41 million shares of common stock outstanding. "The repurchase program demonstrates our confidence in the company's future and supports management's belief that the company's common stock is significantly undervalued at current market levels," said Turbodyne's Chairman Edward Halimi. "Additionally, at its current trading levels, we believe the stock is an excellent value and that the repurchase program will serve well our stockholders and the company." "The actual number of shares repurchased, and the timing of the purchases, will be based on the company's stock price, general economic conditions and other factors," he added. "The company remains in a strong financial position. If share prices remain at current levels, we will look to make repurchases of our stock, which we feel is a proper way to maximize stockholder value."

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