BGI Announces $500,000 Stock Repurchase Program.AUSTIN, Texas -- BGI BGI Barclays Global Investors BGI Bainbridge Graduate Institute BGI Bureau Gravimétrique International BGI Borland Graphic Interface (File Name Extension) BGI Bridgetown, Barbados - Grantley Adams International , Inc. (Pink Sheets:BGII BGII Baldur's Gate II: Shadows of Amn (computer game) ) today announced that the Company's Board of Directors has authorized the Company to repurchase from time to time up to $500,000 of the Company's Common Stock in open market or privately negotiated transactions depending on prevailing market conditions and other factors. The repurchase program may be suspended or discontinued at any time. Bill Schwartz, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , commented, "We've had a sustained period of strong cash flows from our company operations and have amassed a significant amount of capital. Based on current market prices, we believe our stock is 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. and that repurchasing BGI stock is one of the best uses of our capital." Statements that BGI may publish, including those in this announcement that are not strictly historical, are "forward-looking" statements made under the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements are inherently unreliable and actual results may vary. Factors which could cause actual results to differ from these forward-looking statements include but are not limited to changes in the competitive marketplace, changes in the regulatory environment and economic conditions. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. About BGI, Inc. BGI, Inc. (http://www.bgicorp.com) is a gaming company that designs, distributes and markets sweepstakes-driven gaming products. The Company's primary products -- the Charity Station sweepstakes machine and the Lucky Strike Phone card machine -- use a sweepstakes game as an incentive to help non-profit organizations raise funds and sell phone cards, respectively. BGI, Inc. was founded in 1994 and has offices in Austin, Texas. The Company currently trades on the OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Pink Sheets under the symbol BGII. CORPORATE CONTACT Bill Schwartz BGI, Inc. 3211 W. Rundberg, Suite 175 Austin, TX 78758 Phone: 512-335-0065 Fax: 512-335-0078 Web: www.bgicorp.com |
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