KLLM Transport Services, Inc. Announces Stock Repurchase Plan.JACKSON, Miss.--(BUSINESS WIRE)--Dec. 31, 1998--KLLM Transport Services The collective functions of layers 1 through 4 of the OSI model. , Inc. (Nasdaq/NM:KLLM) today announced that the Board of Directors has authorized the repurchase of up to 150,000 shares of the Company's outstanding stock over the next three months. Under the stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program, shares may be purchased from time to time at prevailing prices in open market transactions, subject to market conditions, share price and other considerations. KLLM currently has 4,222,000 shares outstanding and this authorization represent approximately 3.6 percent of that amount. Jack Liles, President and Chief Executive Officer, stated, "The Board believes that the stock, at its current valuation, represents an attractive investment opportunity for KLLM Transport Services." Under a previous stock repurchase plan stock repurchase plan 1. See buyback. 2. See self-tender. that expired November 11, 1998, KLLM repurchased a total of 153,250 shares of the Company's outstanding stock over a three-month period. KLLM Transport Services, Inc., is an irregular-route truckload carrier Merrian-Webster online dictionary defines truckload as " a load or amount that fills or could fill a truck". A truckload carrier is a trucking company that generally contracts an entire trailer-load to a single customer. , specializing in providing high-quality transportation services in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Operations include over-the-road long- and regional-haul transportation services for both temperature-controlled and dry commodities. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion