ALJ Regional Holdings Announces Share Repurchase Program
PR Newswire
SAN DIEGO, Aug. 18, 2014 /PRNewswire/ -- ALJ Regional Holdings, Inc. (OTC Markets: ALJJ) (the "Company" or "ALJJ") today announced that its Board of Directors has authorized a stock repurchase program for its issued and outstanding Common Stock. Depending on market conditions, shares may be repurchased from time to time by the Company at prevailing market prices through open market or negotiated transactions.
The Company is not obligated to purchase any shares. Subject to applicable laws, repurchases may be made at such times and in such amounts as the Company's management deems appropriate. Purchases under the program can be discontinued at any time by the Company. The Company expects to finance the repurchase with cash on hand.
About ALJ Regional Holdings
ALJJ is the parent company of Faneuil, Inc., a leading provider of outsourcing and co-sourced services to both commercial and government entities in the healthcare, utility, toll and transportation industries and Floors-N-More, LLC, dba Carpets N' More, one of the largest floor covering retailer in Las Vegas and providers of multiple finishing products for commercial, retail and home builder markets including all types of flooring, countertops, cabinets, window coverings and garage/closet organizers, with 5 retail locations.
This press release contains forward-looking statements. Such statements include information regarding the Company's expectations, goals or intentions regarding the future, including but not limited to statements regarding the Company's anticipated share repurchases. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. Among the factors that could cause actual results to differ materially are changes in the Company's stock price, liquidity needs or market fluctuations. Additional factors that could cause actual results to differ are discussed in the Company's Annual Report for the fiscal year ended September 30, 2013 and in its other periodic reports issued through the Pink Sheets News Service and available at www.pinksheets.com. All forward-looking statements in this release are made as of the date hereof and the Company assumes no obligation to update any forward-looking statement.
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