YoCream plans to buy back its own stock
Nov 11, 2004 11:09 AM, from staff and wire reports
Frozen yogurt producer YoCream International Inc’s board of directors has authorized a stock repurchase plan. This plan authorizes the Portland OR-based company to purchase up to $1,250,000 of its common stock.
Under the plan, YoCream may make purchases over time through open market transactions, block purchases, or privately negotiated transactions. Based on the recent market price, it could acquire more than 10% of its outstanding common stock.
For assistance in executing stock repurchases, YoCream has entered into a 10b5-1 trading plan that will be administered and executed by D A Davidson. Under this plan, D A Davidson may purchase shares on behalf of YoCream as of Nov 8, 2004, and ending April 30, 2005, unless terminated earlier by the yogurt producer.
