What a load of crap they gave us.....March 19, 201
Post# of 17862
Posted On: 09/05/2014 6:49:04 PM
What a load of crap they gave us.....March 19, 2014, 12:07 p.m. EDT
Hollund Industrial Marine to Commence Buyback Program -- Accelerating Proposed Start Date
Bayano Reservoir Project Revenues to Support Phased Buyback Initiative
BLAINE, WA, Mar 19, 2014 (Marketwired via COMTEX) -- Hollund Industrial Marine, Inc. (pinksheets:HIMR) ("Hollund" or the "Company"
an underwater forest management company, announced today that the board is considering a plan to accelerate the stock buyback program.
"The Phase 1 buyback will be determined by our revenue recognition from the Bayano project," stated Peter Meier, President of Hollund. "With logistics currently unfolding, we will seek to take full advantage of our stock price, which we perceive to be extremely undervalued at this time."
Mr. Meier continued, "When you consider the Bayano project's size, tree volume and high value timber, all of these factors suggest to us that our current capitalization is significantly less than the projected net revenues from this single project. When you further consider the size of this untapped market, along with our global expansion plans, we believe now is a perfect time to commence a repurchase program. Ideally, we would repurchase as much as 10% of the issued and outstanding shares during the first phase of the program. If successful in achieving our reduction goals in the first phase, we would seek to increase our buyback by as much as 50% in a second phase."
The board is expected to approve management's accelerated buyback program shortly upon return from the team meetings in Panama, scheduled for later this month. The Company expects to book its first revenues from the Bayano project in Q2.
Mr. Meier concluded, "Our investment in the Bayano project has set off a chain reaction of events that has everyone at Hollund excited about our upcoming meetings in Panama and thrilled about our prospects to grow the industry globally."
Hollund Industrial Marine to Commence Buyback Program -- Accelerating Proposed Start Date
Bayano Reservoir Project Revenues to Support Phased Buyback Initiative
BLAINE, WA, Mar 19, 2014 (Marketwired via COMTEX) -- Hollund Industrial Marine, Inc. (pinksheets:HIMR) ("Hollund" or the "Company"
an underwater forest management company, announced today that the board is considering a plan to accelerate the stock buyback program. "The Phase 1 buyback will be determined by our revenue recognition from the Bayano project," stated Peter Meier, President of Hollund. "With logistics currently unfolding, we will seek to take full advantage of our stock price, which we perceive to be extremely undervalued at this time."
Mr. Meier continued, "When you consider the Bayano project's size, tree volume and high value timber, all of these factors suggest to us that our current capitalization is significantly less than the projected net revenues from this single project. When you further consider the size of this untapped market, along with our global expansion plans, we believe now is a perfect time to commence a repurchase program. Ideally, we would repurchase as much as 10% of the issued and outstanding shares during the first phase of the program. If successful in achieving our reduction goals in the first phase, we would seek to increase our buyback by as much as 50% in a second phase."
The board is expected to approve management's accelerated buyback program shortly upon return from the team meetings in Panama, scheduled for later this month. The Company expects to book its first revenues from the Bayano project in Q2.
Mr. Meier concluded, "Our investment in the Bayano project has set off a chain reaction of events that has everyone at Hollund excited about our upcoming meetings in Panama and thrilled about our prospects to grow the industry globally."
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