EVANSVILLE, Ind., Sept. 3, 2019 /PRNewswire/ -- Escalade,
Incorporated ("Escalade") (NASDAQ: ESCA) announced that its Board
of Directors has authorized an increase to the Company's stock
repurchase program, increasing the limit from $3,000,000 to $5,000,000.
The stock repurchase plan will be effected in accordance with
Rule 10b-18 under the U.S. Securities
Exchange Act of 1934, which contains restrictions on the number of
shares that may be purchased on a single day, subject to certain
exceptions for block purchases, based on the average daily trading
volumes ("ADTV") of Escalade's shares on NASDAQ. Purchases shall be
limited to daily purchases in an amount up to 25% of the ADTV in
its shares, or one "Block" purchase per week in lieu of the 25% of
ADTV limitation for compliance with Rule 10b-18(b)(4). A "block" as defined under Rule
10b-18(a)(5) means a quantity of
stock that, among other things, is at least 5,000 shares and has a
purchase price of at least $50,000.
Repurchases will be made by transactions conducted through the
NASDAQ Stock Market ("NASDAQ"), or through privately negotiated
transactions.
Escalade is a leading manufacturer and marketer of sporting
goods products sold worldwide. To obtain more information on the
Company and its products, visit our website at:
www.EscaladeInc.com or contact Patrick
Griffin, Vice President of Corporate Development &
Investor Relations at 812/467-1358.
ABOUT ESCALADE SPORTS
Headquartered in Evansville,
IN, Escalade Sports is a global manufacturer and distributor
of sports and outdoor recreational equipment. Leaders in
their respective categories, Escalade Sports' brands include Bear®
Archery, Bear X™, Trophy Ridge®, Rocket®, SIK™ and Cajun
Bowfishing™ archery equipment; STIGA® and Ping-Pong® table
tennis; Accudart® and Unicorn® darting; Atomic®, Victory
Tailgate®, Triumph™ Sports, Viva Sol®, Zume Games®
recreational games; Onix® pickleball equipment; Goalrilla™,
Goalsetter® residential in-ground basketball systems, Goaliath® and
Silverback® residential in-ground and portable basketball goals;
Lifeline® and the STEP® fitness products; Woodplay® premium
playsets; Vuly™ trampolines; and Cue&Case® - a leader in
specialty billiard accessories. Escalade Sports' products are
available at sporting goods dealers and independent retailers
nationwide. For more information on Escalade Sports, its
brands, instruction manuals, retailers, warranty, replacement parts
or customer service, please call 1-888-784-4288 or visit
www.escaladesports.com.
FORWARD-LOOKING STATEMENTS
This report contains forward-looking statements relating to present
or future trends or factors that are subject to risks and
uncertainties. These risks include, but are not limited to, the
impact of competitive products and pricing, product demand and
market acceptance, new product development, Escalade's ability to
achieve its business objectives, especially with respect to its
Sporting Goods business on which it has chosen to focus, Escalade's
ability to successfully achieve the anticipated results of
strategic transactions, including the integration of the operations
of acquired assets and businesses and of divestitures or
discontinuances of certain operations, assets, brands, and
products, the continuation and development of key customer,
supplier, licensing and other business relationships, the ability
to successfully negotiate the shifting retail environment and
changes in consumer buying habits, the financial health of our
customers, disruptions or delays in our supply chain, Escalade's
ability to control costs, general economic conditions, fluctuation
in operating results, changes in foreign currency exchange rates,
changes in the securities market, Escalade's ability to obtain
financing and to maintain compliance with the terms of such
financing, the availability, integration and effective operation of
information systems and other technology, and the potential
interruption of such systems or technology, risks related to data
security of privacy breaches, and other risks detailed from time to
time in Escalade's filings with the Securities and Exchange
Commission. Escalade's future financial performance could differ
materially from the expectations of management contained herein.
Escalade undertakes no obligation to release revisions to these
forward-looking statements after the date of this report.
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SOURCE Escalade, Incorporated