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Newsroom - Clients - PLMA
The following news and investment research items reflect some of the recent business activity for selected clients of Empire Relations Group, Inc. Additional information for investment research can be found in the featured clients section. News and investment research are for informational purposes only.
Palomar Enterprises, Inc.
Palomar Enterprises Finalizes Share Buyback Plan
CARLSBAD, Calif., Oct. 1 /PRNewswire-FirstCall/ -- Palomar Enterprises, Inc. (OTC Bulletin Board: PLMA - News), today announced that The Company has finalized their stock buyback program. The stock buyback programwill begin immediately. The execution of the stock buyback plan will be used to continue to reduce the number of shares outstanding in the common stock of Palomar Enterprises, Inc. In August 2007, Palomar retired 350 million shares of common stock.
Beginning immediately, Palomar Enterprises, Inc. will begin repurchasing shares of common stock from the open market. This will be done through compliance with Rule 10b-18. Funding for the buyback program will come from available working capital. While no specific number of shares or price has been set for the plan, the purchases and the timing of those purchases will depend on cash balances available to do so. And, the plan will be executed over the next several months.
The Company intends to continue to reduce the number of common shares outstanding over the next several months. The Company is committed to building value for its loyal shareholders.
For more info:
contact1@palomarenterprises.com
1-775-887-0570
From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.
http://www.palomarenterprises.com
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Palomar Enterprises, Inc.
Palomar Enterprises, Inc. is a California-registered real estate brokerage firm. The company provides real estate brokerage services to buyers and sellers of residential real estate properties throughout Southern California. Additionally, the company buys and sells distressed properties for its own portfolio while acting as a principal investor in a publiclytraded business development company, The Blackhawk Fund (BHWF:OTCBB).
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