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Article: DRYCLEAN USA, Inc. Announces Stock Repurchase Plan.
- Article from:
- Business Wire
- Article date:
- June 12, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
MIAMI--(BUSINESS WIRE)--June 12, 2001
DRYCLEAN USA Inc, (AMEX:DCU) today announced that its Board of Directors has authorized the repurchase of up to 250,000 shares of its Common Stock. Purchases would be made from time to time in the open market and through privately negotiated transactions, subject to general market and other conditions. The Company estimates that purchases would be made over a period of approximately one year. Shares acquired would be available for later issue upon exercise of stock options and for other corporate purposes.
Venerando Indelicato, Chief Financial Officer of DRYCLEAN USA, said: "The Company ...
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