Command Credit to purchase its own securities on the open market.GARDEN CITY, N.Y.--(BUSINESS WIRE)--March 4, 1996--Command Credit Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : CDMD CDMD Configuration Data Managers Database CDMD Chemical Defense Materials Database ), announced today that the company intends to purchase its own securities on the open market from time to time. Command's board of directors have authorized this transaction based upon the assumption that the company's stock is grossly 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 action by the company is spurred by the fact that the company is currently in the process of implementing certain Affinity group contracts and its recent announcement regarding its new bank contracts. Command expects to show a significant increase in revenue in the last quarter of its fiscal year end (June 30, 1996). Command is an international financial services company whose primary business, through its wholly-owned subsidiary, Berwyn Holdings Inc. is in the marketing and servicing of secured and unsecured bank credit cards (Visa and MasterCard). Command currently has ten signed Affinity group contracts. Berwyn Holdings is in various stages of implementation of these contracts and is currently issuing bank Issuing bank Bank that issues a letter of credit. credit cards. Command, through its various wholly-owned subsidiaries, also provides corporate finance services for middle market commercial leasing, residential mortgages, aircraft leasing and merchant banking. CONTACT: Command Credit Corporation Investor Relations Investor relations The process by which the corporation communicates with its investors. , 1-800-338-9199 |
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