Speedus Announces Stock Repurchase Program
May 31 2005 - 8:00AM
PR Newswire (US)
Speedus Announces Stock Repurchase Program NEW YORK, May 31
/PRNewswire-FirstCall/ -- Speedus Corp. (NASDAQ:SPDE) today
announced that its Board of Directors has approved a stock
repurchase program for up to $1 million of the Company's common
stock. Under a prior repurchase program, the Company had
repurchased 5.4 million shares of its Common Stock for an aggregate
cost of $5.5 million. Under the program, the Company may repurchase
shares from time to time in open market transactions, as well as
privately negotiated transactions and block purchases. The timing
and terms of the purchases will be determined by management based
on market and business conditions at the time, subject to
applicable securities laws. This announcement is not a request or
offer for tender of shares to the Company. About Speedus Corp.
Speedus Corp. is a holding company with controlling interests in
Zargis Medical Corp. and F&B Gudtfood Holdings, Inc. Speedus
Corp also owns broadband intellectual property and controls
licensed wireless frequencies. Additional information on Speedus
Corp. and its services may be obtained at http://www.speedus.com/
or by contacting John Kallassy at 888-773-3669 (ext. 22) or .
Statements contained herein that are not historical facts,
including but not limited to statements about the Company's
product, corporate identity and focus, may be forward-looking
statements that are subject to a variety of risks and
uncertainties. There are a number of important factors that could
cause actual results to differ materially from those expressed in
any forward- looking statements made by the Company, including, but
not limited to, the continuing development of the Company's sales,
marketing and support efforts. DATASOURCE: Speedus Corp. CONTACT:
John Kallassy of Speedus Corp., +1-888-773-3669, ext. 22, or Web
site: http://www.speedus.com/
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