DGAP-News: EMISSION&POWER SOLUTIONS ANNOUNCES STOCK BUYBACK PLAN
(firmenpresse) - Emission&Power Solutions Inc. / Key word(s): Share Buyback
18.10.2010 09:15
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EMISSION&POWER SOLUTIONS ANNOUNCES STOCK BUYBACK PLAN
LONDON, 18 October 2010
Emission&Power Solutions, Plc ('EPS') (Ticker: EPI.F, Bloomberg ticker:
EPI:GR), announced its senior management will begin a plan to purchase up
to five million shares in the aggregate of the company's common stock.
Depending on market conditions, shares may be purchased from time to time
at prevailing market prices through open market or privately negotiated
transactions.
'This share buyback program reflects management's continued confidence in
EPS's strategy and growth prospects as well as an ongoing commitment to
increase stockholder value,' said Erik Ulsteen, Chairman and CEO of EPS.
'We believe that the current market value of our shares does not accurately
reflect the underlying value of the company. With EPS common shares
becoming unrestricted this month, we believe the buyback program will
benefit stockholders in the near term.'
The company is not obligated to purchase any shares. Subject to applicable
corporate securities laws, purchases may be made at such times and in such
amounts as the company's management deems appropriate. Purchases under the
program can be discontinued at any time management feels additional
purchases are not warranted. The company will not provide any financing to
management for the buyback program.
About EPS:
EPS is a 'clean tech' company that licenses, acquires, develops, deploys,
and transfers technologies dedicated to improving fuel economy while also
reducing environmentally harmful exhaust emissions. EPS is a publicly
listed company that trades on the Frankfurt Exchange and the Xetra platform
under symbol EPI.
This news release may contain 'forward-looking statements' about the
business, financial performance and prospects of the Company. Statements
about the Company's or management's plans, intentions, expectations,
beliefs, estimates, predictions, or similar expressions for the future,
including any statements regarding the payment of any dividend or capital
reduction or the timing and amount of such payment, are forward-looking
statements. No assurance can be given that the outcomes of these
forward-looking statements will be realized, and actual results could
differ materially from those expressed as a result of various factors. A
discussion of these factors, including risks and uncertainties, is set
forth from time to time in the Company's filings.
For more information about EPS please visit www.epsaves.com or please
contact:
North America:
Ross Silver
Investor Relations
Vista Partners
+ 1 877.215.4813
info(at)vistap.com
www.vistap.com
Europe:
Harald Jurkschat
Investor Relations
Pro Patrimonio
+41 (0)44 772 10 11
info(at)propatrimonio.ch
www.propatrimonio.ch
18.10.2010 09:15 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Datum: 18.10.2010 - 09:15 Uhr
Sprache: Deutsch
News-ID 32360
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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