Dyna Group International Announces Stock Buyback Plan
16 December 1999
Dyna Group International Announces Stock Buyback Plan
NEW BRAUNFELS, Texas--Dec. 15, 1999--Dyna Group International (OTC BB:DGIX), parent company of Great American Products, today announced the Board of Directors has approved the company's repurchase of up to 1,000,000 shares of its outstanding common stock, effective immediately.The authorization does not include a specific timetable and may be suspended at any time. The stock may be purchased from time to time in open market transactions or in privately negotiated transactions.
Dyna Group International Chairman, Roger Tuttle said, "We believe the stock is significantly undervalued considering the company's recent record of profitability and our successful efforts to eliminate a large portion of corporate debt within the last two years.
"This action by the Board of Directors demonstrates our confidence in the outlook for Great American Products, our sole subsidiary. We continue to build momentum a leader in the licensed products field. Many of the new products launched in 1999 were very well received in the marketplace and we intend to build on this success."
Great American Products, a wholly owned subsidiary of Dyna Group International (OTC BB:DGIX), is recognized as the international leader in the manufacturing and distribution of pewter sports licensed collectibles. The company holds licenses with the NFL, MLB, NBA, NHL, NASCAR and 15 top drivers, ISC, WCW and many others. The company recently announced that it has reached a licensing agreement with the Harley-Davidson Motor Company. In addition to the licensed products, Great American also produces a broad line of non-licensed collectible products, which are sold through a variety of retail channels. The products are prized by collectors due to their design excellence, craftsmanship, and the lasting value of pewter.
Some of the statements in this news release may be forward-looking statements that may involve certain risks and uncertainties. Investors and other are cautioned that the forward looking statements are based on estimates, projections, beliefs and assumptions of management and are not guarantees of future performance.