Pall Corporation - Re Purchase of Own Securities
January 27 2000 - 2:45AM
UK Regulatory
RNS Number:4436E
Pall Corporation
20 January 2000
For More Information Contact:
John Adamovich, Pall Corporation
(516) 484-5400
Pall Corporation Announces $200 Million Stock Repurchase Program
East Hills, NY (01/20/2000) - - The Board of Directors of Pall
Corporation (NYSE: PLL) has extended by three years its October 1997
authorization for the repurchase of the Company's own shares and has
authorized the expenditure of up to an additional $200 million in funds.
The Company has $18 million remaining on the October 1997 authorization,
bringing the total to $218 million.
The Company's shares will be purchased over time in the open market or in
privately negotiated transactions. The repurchased shares will be added
to the Company's supply of treasury shares and will be available for
general corporate purposes including the exercise of stock options. Pall
Corporation has held five stock repurchase programs since 1992.
Eric Krasnoff, Chairman and Chief Executive Officer of Pall Corporation
said, "We firmly believe that Pall Corporation's stock is significantly
undervalued. This repurchase program expresses our confidence in the
future and our strong commitment to enhancing shareholder value."
Pall Corporation, headquartered in East Hills, New York, is a specialty
materials and engineering company with the broadest-based filtration,
separations and purification capabilities in the world. Pall has been a
leader in the filtration industry since 1946. The Company employs about
8,600 people in about 30 countries. Annual sales exceed $1 billion (US).
Pall's shares are listed on the New York Stock Exchange (PLL). Further
information about Pall Corporation is available on the Company's web site
at http://www.pall.com.
END
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