Trans-Pacific Aerospace Announces Purchase of an Additional 200 Million Shares of Common Stock through a 1.8 Billion Share Buy-Back Program
By Business Wire News
By Business Wire News
SAN MARINO, Calif.
Trans-Pacific Aerospace Company, Inc. (“TPAC” or the “Company“) (OTCBB:TPAC) is pleased to announce as part of its buy-back program for the repurchase of common shares presently in the public float that it has, effective as of today, repurchased and removed from the public float an additional 200 million common shares under this program and intends to repurchase up to a total of 1.8 billion total common shares.
Bill McKay, the CEO of TPAC, stated: “This is part of our ongoing commitment to our shareholders to repurchase shares of TPAC common stock, thereby reducing the float. We will continue to acquire as many common shares as possible, so as to obtain a more manageable share structure and float and thereby truly reflect the value of the Company. We remain optimistic that we will acquire more shares and when we do so, we will announce the retirement of large blocks through future press releases and/or Twitter posts. The Twitter account @TPACbearings is the official social media site for TPAC.”
About Trans-Pacific Aerospace
TPAC uses its proprietary aerospace bearing technologies at its facility in China to manufacture and sell component parts for both new commercial and general aviation aircraft and for spares for the existing commercial fleet. The component parts are referred to as self-lubricating spherical bearings and they help with several flight-critical tasks, including aircraft flight controls and landing gears. TPAC is the first and only manufacturer in China to qualify under SAE-AS81820 and 81934.
This press release contains or incorporates by reference “forward-looking statements” including certain information with respect to plans and strategies of TPAC. For this purpose, any statements contained herein or incorporated herein by references that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words “believes,” “suggests,” “anticipates,” “plans,” “expects,” and similar expressions are intended to identify forward-looking statements. There are a number of events or actual results of TPAC operations that could differ materially from those indicated by such forward-looking statements.
Trans-Pacific Aerospace Company, Inc.
Bill McKay, CEO