CODE-ALARM ANNOUNCES CONTINUATION OF SHARE REPURCHASE
CODE-ALARM ANNOUNCES CONTINUATION OF SHARE REPURCHASE MADISON HEIGHTS, Mich., Dec. 6 /PRNewswire/ -- Code-Alarm, Inc.
(NASDAQ-NMS: CODL) announced today it would resume its program to repurchase shares of the company's common stock in the open market or in privately negotiated transactions. To date, the company has repurchased 69,800 shares.
The repurchase program, which had expired on Sept. 30, 1991, will be extended until Dec. 31, 1991. "Our common stock, trading in the $5 range, is severely undervalued and represents an approximate $2 discount from book value," stated Rand Mueller, president, chairman and CEO of Code-Alarm, Inc. "The outlook for the company is encouraging and we are beginning to see firmer market conditions in both auto and home alarm sales," Mueller continued. Code-Alarm, Inc. is the leading manufacturer and designer of a broad range of vehicle security products and home security systems. -0- 12/6/91 /CONTACT: Kenneth Mueller or Richard Wierzbicki of Code-Alarm, Inc., 313-583-9595/ (CODL) CO: Code-Alarm, Inc. ST: Michigan IN: AUT SU:
JG -- DE001 -- 9975 12/06/91 08:36 EST
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|Date:||Dec 6, 1991|
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