OT: CASH CASH CASH $$$$$$$$$$$$$$$$$$$$$$$$
buy back up to one billion of the company's stock
buy back up to one billion of the company's stock
buy back up to one billion of the company's stock
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
First Canadian American Holding Corporation Outlines Two-Year Stock Buyback Plan
12/19/05
TORONTO, Dec 19, 2005 (MARKET WIRE via COMTEX) --
First Canadian American Holding Corporation (OTC: FCDH) today announced that its board of directors approved plans to buy back up to one billion of the company's stock over the next two years.
The stock buyback program approved by the board authorizes the company to buy back up to one billion of the company's stock over the next two years. The specific timing and amount of repurchases will vary based on market conditions, securities law limitations and other factors. The repurchases will be made using First Canadian's cash resources, and the program may be suspended or discontinued at any time without prior notice.
"We are confident in our long-term ability to grow revenue, profits and shareholder value through our innovation and execution," said Sandy Winick, First Canadian's President. "We will continue to make investments in The Fight Network, but we can now also provide significant additional value to shareholders over the next two years."
"As we looked at our choices, our priorities is to implement a stock-buyback program to add confidence to our shareholders in the long-term commitment we have to the company," Winick added
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy
