Berger Holdings, Ltd. Approves Buy Back of Up to 540,000 Shares
PHILADELPHIA--(BUSINESS WIRE)--May 19, 1999--Berger Holdings, Ltd. (NASDAQ: "BGRH") announced that on May 18th its Board of Directors authorized the repurchase of up to 540,000 shares of the company's common stock.
Mr. Theodore A. Schwartz, Chairman and CEO of the company, said, "We feel that our stock's current market price makes it an extremely attractive investment and represents an opportunity to enhance long-term value for our stockholders. The share repurchase program we have announced today is an indication of our confidence in Berger's future."
The repurchases, which represent up to approximately 10% of the company's 5,404,515 million shares of common stock currently outstanding, will be made from time to time through open market purchases or privately negotiated transactions at the discretion of the company and in accordance with the rules of the Securities and Exchange Commission.
The amount and timing of the repurchases will depend on market conditions and other factors. |
