Published:
Vermont Pure Holdings, Ltd. Announces Share Repurchase Plan
WATERTOWN, Conn., July 16 /PRNewswire-FirstCall/ -- Vermont Pure Holdings,
Ltd. (Amex: VPS) announced that it recently completed the purchase of 250,000
shares of its common stock under the plan announced in June 2006. The Board
of Directors of the Company has approved a plan to continue to repurchase
shares of its common stock in the public market up to a limit of an additional
250,000 shares. This program should not be deemed as a recommendation of the
Company or its management to purchase or sell shares of the Company's stock.
The Company currently has approximately 21.5 million shares of its common
stock outstanding and expects to use funds provided from operations to
repurchase stock. Another possible source of funds would be the Company's
credit facility which provides for such purchases within certain limitations.
The Company intends to enter into an issuer repurchase plan with a broker
pursuant to SEC rule 10b5-1 to facilitate the repurchase of shares.
Vermont Pure Holdings, LTD. is the largest independent and third largest
Home and Office distributor of its kind inthe United States. The Company
bottles and distributes natural spring water and purified with minerals added
bottled water under the Crystal Rock(R) and the Vermont Pure(R) trademarks.
It markets its bottled water brands, as well as coffee and other home and
office refreshment products, to customers throughout New England andNew York.
Vermont Pure Holdings Ltd.'s common stock trades on the American Stock
Exchange under the symbol: VPS.
Note: This press release contains forward looking statements that involve
a number of risks and uncertainties that could cause actual results to differ
materially from those indicated by such forward looking statements, including
integration of acquisitions, ability to sustain and manage growth, changing
market conditions, and other risks detailed in the company's filings with the
Securities and Exchange Commission.
SOURCE Vermont Pure Holdings, Ltd.
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
Daily NewsTags: ,FOD,REA,SRP,CT-Vermont-Holdings
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