Moore Senior Managers Increase Their Investment In The Company
Press release from the issuing company
Share Purchases Add Significantly to Senior Managers' Holdings in Company
Purchases further align management with shareholders; Fulfills stock purchase commitment made to investors
TORONTO and STAMFORD, Conn.--Jan. 3, 2002-- Robert G. Burton, President and Chief Executive Officer of Moore Corporation Limited, announced today that various members of the Moore senior management team recently acquired additional shares of the company's stock in various open market transactions.
Mr. Burton and the senior managers that came to Moore in December 2000 bought an additional $3 million worth of Moore shares recently. Mr. Burton and these senior managers had previously been restricted from acquiring significant additional shares. Mr. Burton now holds approximately 1,502,000 shares of the common stock.
Mr. Burton stated:
"These recent purchases by the senior management team not only honor our past commitment to purchase more shares once we were able to do so, but the purchases also reinforce our belief that there is much more that we can accomplish at Moore.
"I personally invested $2 million of my own money when we arrived at Moore last December and have now effectively doubled that investment through various open market transactions to again increase my ownership level. The senior team that came with me to Moore has also effectively doubled their initial investment in the company through various open market transactions. I can think of no stronger message my team and I can send than by investing our personal resources back into the company. My team and I intend to buy additional shares throughout the course of 2002. Our team believes in Moore and we believe that nothing conveys that belief stronger than investing along side the other shareholders.''
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