Amwest Insurance Group Inc. Announces $1.5 Million Share-Repurchase Program.CALABASAS, Calif.--(BUSINESS WIRE)--June 17, 1999-- Amwest Insurance Group Inc. (AMEX AMEX See: American Stock Exchange :AMW AMW America's Most Wanted (TV show) AMW Air Mobility Wing AMW Amphibious Warfare AMW Ask Me Why (Beatles song) AMW Angewandte Medienwissenschaft (German: Applied Media Studies) ) (PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. :AMW) Thursday announced that its board of directors has voted to authorize management to spend up to $1.5 million through Dec. 31, 2001, to buy back its common stock in open-market and privately negotiated transactions. "The present stock price is below what the company considers to be a reasonable value given its recent financial performance and favorable business prospects," said John Savage John Savage may refer to:
The current board action will give the company the ability to repurchase approximately 3.5 percent to 4.0 percent of its currently outstanding shares. Amwest is a Calabasas-based insurance holding company underwriting surety and specialty property and casualty insurance through its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Amwest Surety Insurance Co., Far West Insurance Co. and Condor Insurance Co. |
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