Franklin Capital Makes Announcement.NEW YORK--(BUSINESS WIRE)--Dec. 30, 1998--Franklin Capital Corp. (AMEX AMEX See: American Stock Exchange :FKL FKL Franklin, PA, USA - Chess Lamberton (Airport Code) ) today announced that its Board of Directors has authorized the purchase from time to time of up to 100,000 shares of the company's common stock. Based on the current number of outstanding shares, the repurchase would represent in excess of 10% of Franklin's common stock. Repurchases will be made in the open market from time to time and depending on market conditions and other factors, such purchases may be commenced or suspended at any time without prior notice. "At current price levels, Franklin stock represents a very attractive investment," stated Stephen L. Brown, Chairman of the Board of Directors 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 Franklin Capital. "Our financial position permits us to take advantage of this investment opportunity without impairment Impairment 1. A reduction in a company's stated capital. 2. The total capital that is less than the par value of the company's capital stock. Notes: 1. This is usually reduced because of poorly estimated losses or gains. 2. to our corporate liquidity, further enhancing the benefit to our shareholders. In addition, this action reflects the confidence the Board of Directors and management have in the future of our company." Some of the comments made are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . The company's actual performance may differ from the forecast as a result of variable factors such as the state of the national economy and the success of the company's operating plans. Franklin Capital is a registered Business Development Company ("BDC (Backup Domain Controller) In a Windows NT server, a copy of the Primary Domain Controller (PDC). The BDC is periodically synchronized with the PDC. See PDC. BDC - Backup Domain Controller ") under the Investment Company Act of 1940. Franklin is primarily engaged in the business of furnishing capital and managerial expertise to companies that do not have ready capital through conventional financial channels. |
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