ProQuest Senior Management Purchases ProQuest Shares
ProQuest Company Also Purchases Shares
ANN ARBOR, Mich., Feb. 20 -- ProQuest Company , a leading provider of information solutions and content to the library, education, automotive and powersports industries, reported that certain members of the senior management team have purchased shares of ProQuest stock in the open market. Specific details of the individual transactions were duly reported on individual Form 4 filings, and are available for public viewing from the SEC. ProQuest Company has also repurchased shares in the open market. The company's repurchase was its first transaction under an authorization given by its Board of Directors earlier this year.
Members of management who purchased stock were: * Alan Aldworth, President and Chief Executive Officer * Kevin Gregory, Senior Vice President, Chief Financial Officer
* Linda Longo-Kazanova, Senior Vice President, Human Resources & Business Optimization
* Mark Trinske, Vice President, Investor Relations
"As a management team, we believe that at the current stock price, ProQuest is significantly undervalued, and we have committed personal funds to this belief," said Alan Aldworth, president and chief executive officer of ProQuest Company.
"I am confident that ProQuest has the right strategy for growth, excellent financial strength, and a solid management team. At the current stock price, I believe ProQuest is an excellent opportunity for investors," said Aldworth.
About ProQuest Company
ProQuest Company is based in Ann Arbor, Mich., and is a leading provider of value-added information and content to the library, education, automotive and powersports industries. We provide products and services to our customers through two business segments: Information & Learning and Business Solutions. Through our Information & Learning segment, which primarily serves the library and education markets, we aggregate and publish value-added content from a wide range of sources including newspapers, periodicals and books. Our Business Solutions segment is primarily engaged in the delivery in electronic form of comprehensive parts information to the automotive market. It also provides dealers in the powersports (motorcycle, marine, and RV) markets with management systems that enable them to manage their inventory, customer service and other aspects of their businesses.
Forward-Looking Statements
Some of the statements contained herein constitute forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our markets' actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. These risks and other factors you should specifically consider include, among other things, the company's ability to successfully integrate acquisitions and reduce costs, global economic conditions, product demand, financial market performance, and other risks listed under "Risk Factors" in our regular filings with the Securities and Exchange Commission. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," "projects," "intends" or the negative of such terms or other comparable terminology. These statements are only predictions. Actual events or results may differ materially.
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