Celadon Authorizes Additional Share Repurchase Program.Business Editors INDIANAPOLIS--(BUSINESS WIRE)--Dec. 21, 2000 The Board of Directors of Celadon celadon Chinese, Korean, Siamese, and Japanese stoneware decorated with glazes the colour range of which includes greens of various shades, olive, blue, and gray. The colours are the result of a wash of slip (liquefied clay) containing a high proportion of iron that is Group, Inc. (Nasdaq: CLDN CLDN Calling Line Directory Number CLDN Claudin (gene family) ) today voted to authorize To empower another with the legal right to perform an action. The Constitution authorizes Congress to regulate interstate commerce. authorize v. to officially empower someone to act. (See: authority) management to 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. up to 100,000 shares of the Company's outstanding Common Stock in a buy back program. The repurchase program is in addition to a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program announced by the Company on November 22, 2000 which resulted in the repurchase by the Company of 200,000 shares of its Common Stock. The Company has approximately 7,588,242 shares of Common Stock outstanding. It is anticipated that the Company will purchase these shares in a systematic program of open market or privately negotiated purchases, subject to market conditions, from time to time prior to June 30, 2001. The repurchased shares will become treasury shares and will be used for general corporate purposes, including reissuance in connection with employee benefit plans. Stephen Russell
Stephen Russell is a voice actor, most known for his voice acting in the Thief game series as the protagonist Garrett. , the Chairman and Chief Executive Officer of Celadon Group, indicated that the Board of Directors approved the repurchase in view of the current price level of the Company's Common Stock, and that the adoption of the stock repurchase program reflects the confidence of the Board and the Company's management in the results of the Company's operations and financial performance to date, as well as its future prospects. Russell stated, "We believe that the repurchase of our shares represents an attractive investment opportunity which will benefit the Company and our stockholders." Celadon Group, Inc. is a trucking and e-commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. company headquartered in Indianapolis, IN. The Company operates approximately 2,600 line haul tractors and 6,800 trailers. Please visit the company's websites at: www.celadontrucking.com and www.truckersb2b.com. The discussion set forth above as well as oral statements made by officers of the Company relating thereto there·to adv. 1. To that, this, or it. 2. Archaic In addition to that; furthermore. thereto Adverb Formal 1. to that or it 2. , may contain forward looking statements within the meaning 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. Such comments are based upon information currently available to management and management's perception thereof as of the date of this press release. Actual results of the Company's operations could materially differ from those forward looking statements. Such differences could be caused by a number of factors including, but not limited to, potential adverse affects of regulation; change in competition and the effects of such changes; increased competition; change in fuel prices; changes in economic, political or regulatory environments; changes in the availability of a stable labor force; ability of the Company to hire drivers meeting Company standards; changes in management strategies; environmental or tax matters; and risks described from time to time in reports filed by the Company with the Securities and Exchange Commission. Readers should take these factors into account in evaluating any such forward looking statements. For additional information on Celadon Group, Inc. free of charge via the internet, please go to http://www.tirc.com/invest/celadon/index.htm |
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