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Thursday, October 29, 2009 1:39:04 PM
REUTERS
Evolution Fuels, Inc. Announces Board Authorization of Stock Purchase Program
Thursday, 24 Sep 2009 10:50am EDT
Evolution Fuels, Inc. announced that its Board of Directors authorized a stock repurchase program under which up to ten billion shares of its outstanding common stock may be acquired in the open market over the next six months at the discretion of management. The shares will be purchased from time to time at prevailing market prices, through open market or unsolicited negotiated transactions, depending upon market conditions. Under the program, the purchases will be funded from available working capital, and the repurchased shares will be held in treasury or used for ongoing stock issuances such as issuances under employee stock plans. There is no guarantee as to the exact number of shares that will be repurchased by the Company, and the Company may discontinue purchases at any time that management determines additional purchases are not warranted.
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