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Non-Tech : InvestRight Club Challenge

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To: Jeffrey L. Henken who wrote (1100)3/25/1999 9:26:00 AM
From: Francois Goelo  Read Replies (2) of 2662
 
Jeffrey, UCMP, has doubled its stock buy back figures ...

MARIETTA, Ga., Dec 30 (Reuters) - UniComp Inc. said Wednesday its board has doubled its stock buyback target to 400,000 shares, equal to about 5 percent of its oustanding stock.

"In light of the cash received from the disposition of Aurora UniComp, the company has significant cash reserves and feels an investment in its common stock is one of the best uses of these funds at this time," UniComp President and Chief Executive Stephen Hafer said in a statement.

At the close of the second quarter on Aug. 31, the company reported having about 7.9 million shares outstanding.

Shares of UniComp, a specialty software company, rose 43.75 cents to $3.25 on Nasdaq.

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