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APRO News out!!!! Allegiant Professional Business Services Reports the Progress of Its Previously Announced Common Stock Repurchase Program.
Allegiant announces current results of stock repurchase plan
MARLTON, N.J. Dec. 7 /PRNewswire-FirstCall/ -- Allegiant Professional Business Services Inc. (Pink Sheets: APRO), a premier provider of financial services to small and medium-size businesses, previously announced that the company is acting on its stock repurchase program. The company's Board of Directors authorized repurchase of up to an aggregate of 15,000,000 shares of its common stock as market and business conditions warrant. The share repurchases are being made by the company's designated brokerage firm, and are being conducted under applicable SEC guidelines and regulations.
David Goldberg CEO and Chairman of Allegiant stated, "I am pleased to report that beginning October 14, 2009, pursuant to rule 10b-18, we began repurchasing our common stock. Repurchase, under the rule, restricts the amount of stock the company can repurchase based on volume formulas." Goldberg continued, "We believe the current valuation of Allegiant's common shares makes the repurchase of our equity a solid investment for the company and are committed to continuing the program. Mr. Goldberg added, "Our business is continuing to grow at an outstanding run rate. We estimate annual payroll runs upwards of Ninety Million Dollars ($90,000,000.00) for year ending December 2009. We will continue to aggressively seek strategic acquisitions to further grow the business".
Allegiant Professional Business Services Inc. provides financial services to small and medium-size businesses, relieving our clients from many of the day-to-day tasks that negatively impact their core business operations, such as payroll processing, human resources support, workers' compensation insurance, safety programs, employee benefits, and other administrative and aftermarket services predominantly related to staffing -- staff leasing, temporary staffing and co-employment. We not only provide core services but a wide selection of employee and employer benefits and aftermarket products.
Posts: 428 | From: Michigan | Registered: Oct 2009
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APRO - Allegiant Professional is a full-service staffing oragnization, providing both temporary workers on short-term, on-demand Basis along with recruiting services for full-time, direct placement employees. They provide you the right employees WHEN you need them and HOW you need them, including:
•Temporary Job Assignment •Temporary-to-Hire •Seasonal Business Surge •Direct Placement
Through their active-screening process of all candidates and staff members, they certify and guarantee that Allegiant employees are well-qualified with the skill-set and requirements to successfully meet and exceed your specific staffing requirements. They do your job right.
Posts: 428 | From: Michigan | Registered: Oct 2009
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