Consolidated Eco-Systems announces employee stock purchases and intent to establish company assisted market purchase program.LITTLE ROCK, Ark.--(BUSINESS WIRE)--June 26, 1997--Consolidated Eco-Systems Inc. (Consolidated ECO E·co , Umberto Born 1932. Italian writer best known for his novels, including The Name of the Rose (1981). He has also written extensively on semiotics and British and American popular culture. ), formerly Exsorbet Industries Inc. (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 :EXSO) today announced that its board of directors approved the establishment of a Company Assisted Market Purchase Program to assist its employees in the acquisition of the company's common stock in open market transactions. The program will not increase the number of outstanding shares of common stock of the company but will assist employees in acquiring the company's common stock through broker assisted open market transactions. As part of the program, the company will attempt to negotiate favorable commission structures with brokerage firms for the employees. Employees would also be permitted to allocate a portion of their payroll for direct deposit into their brokerage accounts. James J. Connors Jr., president and 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. of Consolidated ECO, said, "Employee ownership is very important to Consolidated ECO. Company management believes that our stock is extremely 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. at the present time. Many members of management and their families have been taking advantage of this opportunity through open market purchases." Connors continued by saying, "Many of our employees have asked management to assist them in making individual purchases of our stock in light of the current price. It is our desire to assist these employees in sharing in the value that we believe our stock offers." Consolidated Eco-Systems Inc. is a diversified technology and service company providing state-of-the-art technical solutions for problems in site remediation, coal and petroleum tar liquefication and recycling, hazardous waste Hazardous waste Any solid, liquid, or gaseous waste materials that, if improperly managed or disposed of, may pose substantial hazards to human health and the environment. Every industrial country in the world has had problems with managing hazardous wastes. cleanup services, civil and environmental engineering, management and environmental consulting Environmental consulting is often a form of compliance consulting, in which the consultant ensures that the client maintains an appropriate measure of compliance with environmental regulations. , and construction/remediation project management. Consolidated ECO performs project work in 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 Eastern Europe. This press release contains forward-looking statements with respect to the results of operations and business of the company that involves risk and uncertainties. These risks and uncertainties are detailed from time to time in the company's filing with the Securities and Exchange Commission, including the company's Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 1996. CONTACT: Consolidated Eco-Systems Inc., Little Rock James J. Connors Jr., 334/621-9989 or Ed Penick Jr., 501/664-7745 |
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