Concord Camera management purchases stock.AVENEL, N.J.--(BUSINESS WIRE)--November 8, 1995--Concord Camera Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :LENS) today announced that members of its senior management group had purchased 444,000 shares of Common stock from the Company at a purchase price of $5-3/8 per share, paid by delivery of interest bearing, full-recourse, secured promissory notes. The stock was purchased on November 7, 1995 pursuant to the Company's existing Management Incentive Plan, which plan was previously approved by the Company's Shareholders and Board of Directors. Each stock purchase carries with it a contingent grant of an equal number of shares of restricted stock, issuable in installments if significant increases in shareholder value are attained within stipulated periods of time. If issued, the restricted stock would vest in installments over three years from its date of issue. In commenting on the purchase of Company Stock, Ira B. Lampert, Chairman and Chief Executive Officer said, "Management's investment reflects its confidence in the Company's successful turnaround, continued growth, financial performance and its belief in the Company's future prospects." Concord Camera Corp. is principallly engaged in the manufacture and sale of popularly-priced, easy-to-use, 35 millimeter, 110 cartridge, and single-use cameras which it manufactures and assembles in the PRC under the CONCORD, KEYSTONE, LE CLIC CLIC Centre Local d'Information et de Coordination (French) CLiC Climate and Cryosphere (World Climate Research Programme project, Norway) CLIC Compact Linear Collider CLIC Connecticut Licensing Information Center and for sales outside the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Mexico, ARGUS Argus (är`gəs) or Argos (är`gŏs, –gəs), in Greek mythology. 1 Many-eyed monster, also called Panoptes. He guarded Io after she had been changed into a heifer. tradenames, as well as private labels. The Company sells and markets its camera products worldwide through direct sales offices in the United States, Canada, Germany, Hong Kong, Japan, Panama and United Kingdom, Hungary, France and through independent sales agents. CONTACT: Concord Camera Corp., Avenel Gary M. Simon, 908/499-8280 or 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 , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Adam I. Friedman/Joseph A. Mansi 212/682-6300 ext. 215/205 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion