American Biltrite Announces Congoleum Share Purchase Authorization.Business/Technology Editors WELLESLEY HILLS, Mass.--(BUSINESS WIRE)--Dec. 14, 2000 American Biltrite Inc. (AMEX AMEX See: American Stock Exchange :ABL) announced today that its Board of Directors has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the purchase from time-to-time of up to $5,000,000 of the outstanding Class A Common Shares of Congoleum Corporation (AMEX:CGM (1) (Computer Graphics Metafile) An ISO/IEC standard format for 2D graphics images introduced in 1987. Primarily a vector graphics format for technical illustrations and geophysical visualizations, CGM also supports raster graphics and text. ), either in the open market or in privately negotiated transactions, depending on market conditions and other factors. American Biltrite Inc. currently owns 4,395,605 Class B and 44,100 Class A Common Shares of Congoleum, which on a combined basis represent a 54% economic interest and a 69% voting interest Voting interest in business and accounting is a percentage of voting stock owned. This notion is different from economic interest that refers to a percentage of all the equity issued, including preferred stock, warrants, and so on. . |
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