Message #19 From:
Stock News Bot Date: October 12, 2006 09:07:00 AM
JLWT News Janel World Trade Ltd. Authorizes Stock Repurchase Program
JAMAICA, N.Y.--(BUSINESS WIRE)--Janel World Trade, Ltd. (OTCBB: JLWT) announced today that its
Board of Directors has authorized a stock repurchase program of up to
300,000 shares of Janel stock in open market transactions. Subject to
certain conditions under Rules 10b5-1 and 10b18 under the Securities Act
of 1934, the shares are expected to be purchased during the next twelve
months, dependant upon prevailing market conditions and other factors.
The repurchase plan may be suspended by the company at any time. The
company intends to appoint a brokerage firm as its agent in executing
such transactions.
James Jannello, Janel’s Chief Executive
Officer, stated, "We firmly believe that Janel's current stock price
does not reflect the underlying value of the company. Janel has grown
into a global provider of logistics services to a growing list of
multi-national companies, many of which have been clients for several
decades. Based on valuation metrics applied to other global third part
logistic companies, we believe the current stock price represents a
buying opportunity for the company."
About Janel World Trade, Ltd.
Janel World Trade, Ltd. (OTCBB: JLWT)
is a global provider of integrated logistics services, including
domestic and international freight forwarding via multi-modal carriers,
customs brokerage, warehousing and distribution and other
transportation-related services. Additional information on Janel World
Trade is available on the Internet at www.janelgroup.com
or www.janelgroup.net. and in
the Company’s filings with the Securities and
Exchange Commission, including its most recent Form 10-K, 10-Q and 8-K
reports.
Forward-Looking Statements
The statements contained in this release that are not historical facts
are forward-looking statements (as such term is defined in the Private
Securities Litigation Act of 1995). Actual results may differ materially
from those anticipated or implied in the forward-looking statements.
These forward-looking statements involve risks and uncertainties,
including competitive factors and pricing and supply pressures; the
Company's dependence upon conditions in the air, ocean and land-based
freight forwarding industry; the size and resources of many of the
Company's competitors; and the need for the Company to effectively
integrate acquired businesses and to successfully deliver its primary
services. Additional information with respect to these and other factors
that could materially affect the Company is included in the Company’s
filings with the Securities and Exchange Commission, including its most
recent Form 10-Q filing.
