WATERTOWN, Conn., June 19 /PRNewswire-FirstCall/ -- Vermont Pure Holdings, Ltd. has announced that it plans to repurchase shares of its common stock in the public market up to a limit of 250,000 shares from time to time at the discretion of management.
The Company currently has approximately 21.6 million shares of its common stock outstanding.
"At current market prices we feel that this is a good purchase price for the Company," said Peter Baker, C.E.O. of Vermont Pure Holdings, Ltd. "We plan to use cash generated by the business for the repurchase of shares and some funds may be used from our line of credit to complete the plan," Baker concluded.
The amount and price of shares purchased will be at the discretion of management and dependant on market conditions and other factors. The purchase limit set by the Company may not be reached, in which case, the Company will re-evaluate its position. 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.
Vermont Pure Holdings, LTD. is the largest independent and third largest Home and Office distributor of its kind in the 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 and New 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.
