February 8th, 2012
Posted on 24. Aug, 2010 by PublicWire in General
(AMIN.OB) American International Industries, Inc. Repurchases Up To One Million Worth Of Its Common Stock
(PublicWire.com News Release)American International Industries, Inc. (OTCBB:AMIN) (”American” or the “Company”) today announced the approval by its board of directors to repurchase up to $1,000,000 worth of its common stock.
The board’s decision is based on the fact that the market cap of AMIN is approximately $6,000,000, which is equivalent to the amount of AMIN’s cash and trading securities, without including the trading value of our 48.1% interest in our publicly-traded subsidiary, Delta Seaboard International, Inc., the value of our 100% owned subsidiaries Northeastern Plastics, Inc., Shumate Energy Technologies, Inc. and the equity value of our real estate investments. Mr. Daniel Dror, Chairman and Chief Executive Officer of AMIN, stated “We believe the authorization of a share repurchase program at this time is a reflection of the board’s confidence in the future of our business and reaffirms our commitment to enhancing shareholder value.”
(AMIN.OB) American International Industries, Inc. Repurchases Up To One Million Worth Of Its Common Stock
Depending on market conditions and other factors, repurchases may be commenced or suspended at any time, or from time-to-time, without prior notice. Share repurchases under this program may be made through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions or otherwise, or by any combination of such methods. The timing and actual number of shares repurchased will depend on a variety of factors including the common share price, corporate and regulatory requirements and other market and economic conditions. The Company is not obligated to acquire any particular amount of common stock as a result of the plan, which may be suspended or discontinued at any time at the company’s discretion.
AMIN.OB, AMIN.OTCBB, OTCBB:AMIN, AMIN
Forward Looking Statements
Certain statements in this press release that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as “anticipate, “believe,” “expect,” “future,” “may,” “will,” “would,” “should,” “plan,” “projected,” “potential,” “intend,” and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the “company to be materially different from those expressed or implied by such forward-looking statements.
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