Moore Announces $50 Million Share Repurchase Program
Press release from the issuing company
TORONTO & STAMFORD, Conn.--Feb. 7, 2002--Robert G. Burton, President and Chief Executive Officer of Moore Corporation Limited, announced today that the company has received authorization from its Board of Directors to repurchase up to $50 million worth of shares of the company's common stock. The repurchase program calls for shares to be purchased on the New York Stock Exchange or in private transactions from time to time. The timing of the purchases will depend upon market conditions, the market price of company common stock and management's assessment of the company's cash flow needs.
Mr. Burton stated:
"The decision to implement a share repurchase program reflects our belief and confidence in the positive direction of the company as well as the company's improved overall operational performance. We believe this program provides an excellent opportunity to increase the value of our shareholders' investment.''
Mr. Burton added:
"I look forward to discussing this positive program as well as our fourth quarter and full year 2001 results on February 14, 2002 during our quarterly conference call with investors.''
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