صاعد نازل
عضو مميز
- التسجيل
- 1 نوفمبر 2004
- المشاركات
- 8,096
FGFC.PK
First Guardian Financial Corporation Agrees to Acquire Another 50 Million Common Share Block from Its Predecessors, Thus Reducing the Outstanding Restricted Shares to Less Than 20 Million & Commences Buyback Program
Tuesday July 11, 8:44 am ET
NEW YORK--(BUSINESS WIRE)--July 11, 2006--First Guardian Financial Corporation (Pink Sheets: FGFC - News) today announced that it has agreed to acquire another block of 50 million outstanding restricted common shares & commences its previously announced buyback program.
The Company keeping with its stated commitment to reduce its share structure has reached an agreement to acquire another block of 50 Million Restricted Common Shares from the previous management, with this purchase the company's authorized shares will be reduced to 102 Million.
The company now after completing this purchase of 50 million restricted shares coupled with the previous purchase and retirement of 48 million restricted shares will now focus on its stated buyback program to further reduce its authorized and outstanding shares even further.
"The company keeping with its stated objective of reducing the number of authorized and outstanding shares is extremely pleased to have been able to reach this agreement to acquire this block of 50 million shares and now will focus on buying back additional shares on the open market and retiring them to the company's treasury," stated Abraham Rosenman, President of First Guardian Financial Corporation. Mr. Rosenman also stated, "When the entire buyback program is completed the company expects to have no more than 50 million shares authorized and approximately no more than 35 million shares in the public float thus creating the appropriate shareholder/investor value as we proceed to applying for listing on the OTCBB."
About First Guardian Financial Corporation:
First Guardian Financial Corporation Agrees to Acquire Another 50 Million Common Share Block from Its Predecessors, Thus Reducing the Outstanding Restricted Shares to Less Than 20 Million & Commences Buyback Program
Tuesday July 11, 8:44 am ET
NEW YORK--(BUSINESS WIRE)--July 11, 2006--First Guardian Financial Corporation (Pink Sheets: FGFC - News) today announced that it has agreed to acquire another block of 50 million outstanding restricted common shares & commences its previously announced buyback program.
The Company keeping with its stated commitment to reduce its share structure has reached an agreement to acquire another block of 50 Million Restricted Common Shares from the previous management, with this purchase the company's authorized shares will be reduced to 102 Million.
The company now after completing this purchase of 50 million restricted shares coupled with the previous purchase and retirement of 48 million restricted shares will now focus on its stated buyback program to further reduce its authorized and outstanding shares even further.
"The company keeping with its stated objective of reducing the number of authorized and outstanding shares is extremely pleased to have been able to reach this agreement to acquire this block of 50 million shares and now will focus on buying back additional shares on the open market and retiring them to the company's treasury," stated Abraham Rosenman, President of First Guardian Financial Corporation. Mr. Rosenman also stated, "When the entire buyback program is completed the company expects to have no more than 50 million shares authorized and approximately no more than 35 million shares in the public float thus creating the appropriate shareholder/investor value as we proceed to applying for listing on the OTCBB."
About First Guardian Financial Corporation: