Business Services Industry
TENERA Announces Adoption of Stock Buyback Plan
Business Wire, Dec 8, 1995
SAN FRANCISCO--(BUSINESS WIRE)--Dec. 8, 1995--TENERA, Inc. (AMEX: TNR) announced today that its Board of Directors has adopted a plan for the Company to repurchase up to one million dollars ($1,000,000) of its outstanding shares of common stock in the open market and in negotiated transactions.
The timing and amount purchased from time to time will depend on prevailing share market prices and trading volume and will comply with applicable government regulations.
Commenting on this decision, Michael D. Thomas, Chairman and Chief Executive Officer, said: "We are pleased with the progress made by the Company this year and believe that the stock is currently undervalued by the market. This repurchase program was adopted as yet another step in our commitment to leverage opportunities to maximize shareholder value."
TENERA, Inc. provides integrated management, consulting, and software solutions for utilities, the government, and large transportation operations through offices in California, Colorado, Connecticut, Idaho, Maryland, New York, Tennessee and Washington.
CONTACT: TENERA, Inc.
Jeffrey Hazarian or James Robison, 415/536-4744
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