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Phoenix Announces Stock Buy Back Program Monday June 19, 9:30 am ET
COVINGTON, LA--(MARKET WIRE)--Jun 19, 2006 -- Phoenix Associates Land Syndicate (Phoenix) (Other OTC:PBLS.PK - News) today announced modifications to its stock repurchase program that it publicized back on April 26, 2006. Phoenix had previously announced a continuation of the stock repurchase program for an unlimited number of shares. Phoenix's Board of Directors has now clarified that the stock repurchase program encompasses the following components: (i) Phoenix shall repurchase up to one hundred million shares at a price of $0.03 per share of common stock, and (ii) all repurchases shall be effected in compliance with Rule 10b-18, promulgated under the Securities Exchange Act of 1934.
Should you wish to participate in this stock repurchase program please:
1. Send your stock certificate via "Certified - Return Receipt Requested" mail to: Phoenix Associates Land Syndicate P.O. Box 1358 Covington, Louisiana 70434-1358
2. With your certificate send a letter, in your own words, stating that you are selling the stock back to Phoenix for $0.03 per share and that you request your payment on same within thirty (30) days.
3. Sign the back of your certificate as the seller along with your letter.
4. Phoenix will handle the ensuing paperwork and pay you for your stock within thirty (30) days of the receipt of your letter and your signed certificate.
Forward-Looking Statements
This press release contains statements that are "forward-looking" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward-looking statements. Statements in this press release regarding the Company's business or proposed business, which are not historical facts, are "forward-looking" statements that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.
Contact:
For More Information Contact: Mike Mulshine Osprey Partners (732) 292-0982 osprey57*optonline.net
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