Vermont Pure Holdings, Ltd. Announces Share Repurchase Plan
The Company bottles and distributes natural spring water and purified with minerals added bottled water under the Crystal Rock and the Vermont Pure trademarks.
17/07/08 Vermont Pure Holdings, Ltd. 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 in the United States. The Company bottles and distributes natural spring water and purified with minerals added bottled water under the Crystal Rock and the Vermont Pure 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.
