Country Maid Foods Inc. announces share repurchase.AURORA, Mo.--(BUSINESS WIRE)--Dec. 3, 1996--Country Maid Foods Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :CMFI CMFI Central Multiport Fuel Injection ) today announced that its board of directors has authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: a program under which the company may repurchase up to 2.5 million shares of its common stock. This represents about 5% of the shares outstanding. Purchases will be made in the open market or in negotiated transactions as the company may from time to time decide. "This action has been taken based on the board's decision that, at current market prices, Country Maid Foods' common shares are 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. and represent an attractive investment opportunity for the company," said John Moneymaker, president. The timing and volume of purchases will be dependent upon market conditions and other factors and there is no guarantee as to the exact number of shares to be repurchased by the company. Country Maid Foods Inc. has two subsidiaries: Country Maid Farms Inc., which is a commercial egg production company with operating facilities in Missouri, Nebraska, and South Dakota South Dakota (dəkō`tə), state in the N central United States. It is bordered by North Dakota (N), Minnesota and Iowa (E), Nebraska (S), and Wyoming and Montana (W). , and Harrington-Chase P.L.C. of London, which is primarily engaged in the import and export of agriculture-related products. CONTACT: Country Maid Foods Inc., Aurora John Moneymaker, 417/678-3511 or Alexis International Michael Zapara, 619/773-9227 |
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