Atlantic International Entertainment, Ltd's -AIEE- Announces Stock Repurchase Plan.BOCA RATON, Fla.--(BUSINESS WIRE)--Dec. 4, 1998--Atlantic International Entertainment, Ltd., AIE AIE Adventures in Education AIE Associazione Italiana Editori (Italy) AIE Arts in Education AIE Associazione Italiana di Epidemiologia AIE Applied Information Economics AIE Australian Institute of Energy (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BB:AIEE AIEE American Institute of Electrical Engineers (now IEEE) AIEE Aeronautical Imagery Exploitation Environment ) announced today that its Board of Directors has authorized the Company to repurchase, from time to time up to one million shares of the Company's common stock. Such purchases may be made in the open market, including through block trades, or in private transactions, at times and in amounts which management deems appropriate. The stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program can be terminated, extended or limited at any time. Richard Iamunno, President and Chief Executive Officer of Atlantic, said, "At its current level, we consider Atlantic common stock to be undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. . This is true compared to our peers in the Internet Gaming sector and even more pronounced in the E-Commerce sector, where we are now emerging as a significant factor. Management is sensitive to this issue and will consider repurchases of shares of Atlantic stock at appropriate intervals." AIE develops and markets Internet and private network transaction based products including global turnkey Internet Casino Extension, (ICE) for licensed casinos; web Sports, Internet sports wagering system; Hotel Hotlinks, in-room gaming and entertainment system; realSports, an on-line sports information service and Internet-related products and services, including hand held wireless computers for all forms of E-Commerce, including Internet gaming (Atlantic Internet). This press release contains potential forward-looking statements regarding the Company. The future performance of the Company involves risks and uncertainties that could cause actual results to differ materially. Such risks include competition and pricing pressures, dependence on telecommunications carriers, management of growth, customer turnover, technological change, governmental regulation, unauthorized use of technology, system failures and a variety of stock market-related risks. For a more complete description of certain of such risks and uncertainties, we refer you to the documents that the Company files from time to time with the Securities and Exchange Commission including 10K filed May 26, 1998 with the Securities and Exchange Commission and form 10Q filed November 16, 1998. This release is available on the KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Worldwide Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most website at www.kcsa.com. |
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