Twin Disc reactivates stock purchase plan
RACINE, Wis. – Marine transmission manufacturer Twin Disc, Inc., is reactivating a purchase plan of up to 140,000 shares, or approximately 4.8 percent of its common stock outstanding from a previously announced Board of Directors’ authorization, the company said in a recent release.
The reactivation is no guarantee that Twin Disc will purchase any or all of this stock. If purchased, the stock will be added to the company’s treasury shares and may be used for general corporate purposes. These purchases can be made in the open market or in negotiated transactions from time to time depending on market conditions.
“We believe the corporate strategies management is following will continue to position the company in enhancing shareholders’ value,” Michael E. Batten, chairman and CEO said. “With the sudden decline in our stock price, we feel reactivating the stock purchase plan is merited as the current market price does not reflect the Company’s intrinsic value and presents an attractive investment opportunity for Twin Disc.”
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