Frisco Bay announces its intention to repurchase shares of common stock.MONTREAL--(BUSINESS WIRE)--Jan. 15, 1997--FRISCO BAY (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 :FBAYF) Frisco Bay Industries Ltd., an international provider of automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. transaction, time management and security systems for financial institutions, government agencies and industry, today announced that on January 9, 1997, the Company filed a notice of intention to commence a normal course issuer bid through the facilities of NASDAQ. Pursuant to this normal course issuer bid, which will take effect on January 27, 1997, Frisco Bay intends to purchase up to a maximum of 50,000 shares of common stock, representing approximately 4.5 percent of the public float. Frisco Bay believes that its performance and underlying value have not been fully reflected in the trading prices Trading price The price at which a security is currently selling. for its shares of common stock. Frisco Bay Industries Ltd. services its clients through sales and service offices located throughout Canada, 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 Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. where it is recognized as an integrated solutions expert. CONTACT: Frisco Bay Industries Ltd. Barry Katsof, 514/738-7300 or Frisco Bay Industries Ltd. Heather Halickman, 514/738-7300 |
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