Clark Holdings Inc. Modifies Securities Repurchase Program
March 24 2008 - 6:45AM
PR Newswire (US)
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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