Board of Directors Authorizes the Repurchase of Common Stock
NEW YORK, March 24 /PRNewswire-FirstCall/ -- Clark Holdings Inc. (Amex: GLA; GLA.U; GLA.WS), a non-asset-based provider of mission-critical supply chain solutions, today announced that its Board of Directors has amended the previously announced warrant repurchase program to also authorize the repurchase of the Company's common stock.
The maximum amount authorized for the repurchase of common stock and warrants remains $3 million. Repurchases will be made from time to time in the open market and through privately negotiated transactions, subject to market conditions. No minimum number of shares or warrants to be repurchased has been fixed. There is no timeframe to complete the repurchase program and it is expected that the common stock and warrant repurchases will be paid using existing and future cash generated by operations.
About Clark Over its 30-year history, Clark has built a position as the leading independent provider of value-added distribution, transportation management, and international air and ocean freight forwarding services to the print media industry.
This press release may contain certain forward-looking statements including statements with regard to the future performance of Clark Holdings. Words such as "believes," "expects," "projects," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements inherently involve certain risks and uncertainties that are detailed in Clark Holdings' filings with the Securities and Exchange Commission. Clark Holdings undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. DATASOURCE: Clark Holdings Inc.
CONTACT: Timothy Teagan, President, CEO, Clark Holdings Inc., +1-609-396-1100; or Investors, Jeff Majtyka, Brad Edwards, or Media, Jenna Focarino, all of Brainerd Communicators, Inc., +1-212-986-6667
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