Group V to Initiate Stock Buy Back Program; Company will purchase up to 10 million outstanding shares.
Group V Corporation (OTC BB: GRPV) announced today that it will initiate the stock buy back program approved at the Company's stockholders meeting in May of 1997. The Company will buy back up to ten million (10,000,000) of its outstanding shares.
Ttion, the Company will endeavor to repurchase these outstanding shares prior to announcing the next stockholders meeting scheduled for later this year.
Group V Chairman and President, Joseph Monterosso explained, "Initiating the stock buy back at this time will not only reduce the number of free trading shares outstanding, it will also reduce the considerable costs associated in communicating with such a large stockholder base. We will be able to better manage the base group and improve communication with our sttalAxcess.com, Inc.
Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involsuppliers, intellectual property rights and other risks detailed from time to time in the Company's periodico your home page.
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|Date:||May 10, 1999|
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