American Nortel Communications Inc. Announces Additional Stock Purchase.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Aug. 27, 1997--American Nortel Communications Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ARTM ARTM Analysis & Reporting Training Module ARTM Availability Reporting and Tracking Module (replaced by STASS FY96) ARTM Acquisition Reform Training Modules ) Wednesday announced the repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. of additional shares. Having completed the previously announced purchase of 400,000 shares, American Nortel Communications Inc. announced today that their board of directors has approved the repurchase of up to 500,000 additional common shares. The timing and terms of the repurchase will be determined by management, based on market conditions. American Nortel Communications Inc. said it had 8.8 million common shares outstanding as of Dec. 31, 1996. Scottsdale based American Nortel Communications Inc. is a provider of long distance value services such as international callback The practice of circumventing the high cost of international toll calls by mixing conferencing with special signaling to allow an overseas call to be placed via a U.S. dialtone at much lower rates. , travel cards, debit cards debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. , voice mail, fax and call-follow-me services. In addition, American Nortel Communications Inc. installs proprietary equipment in major markets throughout the world to provide niche telecommunication services. CONTACT: American Nortel Communications Inc., Scottsdale Bill Williams, 602/945-1266 |
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