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For more info: http://www.realpennies.com/otc/hbrfw Highbury Financial Inc. Announces Securities Repurchase Program (OTCBB:HBRFW) Highbury Financial, Inc.
Highbury Financial Inc. Announces Securities Repurchase Program
DENVER-Highbury Financial Inc. , an investment management holding company, announced recently that its Board of Directors has adopted a Securities Repurchase Program authorizing Highbury to use up to $1,000,000 to acquire shares of its common stock, its warrants or a combination thereof in the open market or in any private transaction, from time to time and in accordance with applicable laws, rules and regulations. Highbury is focused on generating returns for shareholders through its primary growth strategy of making accretive investments in new affiliates. The Securities Repurchase Program will supplement this effort and allow Highbury to repurchase outstanding securities, as appropriate. As of January 20, 2009, Highbury had 9,118,740 shares of common stock and 13,983,708 warrants outstanding. The Securities Repurchase Program shall be in effect until December 31, 2009 and may be suspended, from time to time and in accordance with applicable laws, rules and regulations, for business reasons or for other reasons.
Highbury is an investment management holding company providing permanent capital solutions to mid-sized investment management firms. We pursue acquisition opportunities and seek to establish accretive partnerships with high quality investment management firms. Highbury?s strategy is to provide permanent equity capital to fund buyouts from corporate parents, buyouts of founding or departing partners, growth initiatives, or exit strategies for private equity funds. This strategy includes leaving material equity interests with management teams to align the interests of management and Highbury?s shareholders and, in general, does not include integrating future acquisitions, although Highbury may execute add-on acquisitions for its current or future affiliates. We seek to augment and diversify our sources of revenue by asset class, investment style, distribution channel, client type and management team. We intend to fund acquisitions with our revolving credit facility, other external borrowings, retained earnings , additional equity and other sources of capital, including seller financing and contingent payments.
Questions and inquiries for further information may be directed to Richard S. Foote, President and Chief Executive Officer of Highbury Financial Inc. He can be reached via telephone at 212-688-2341. More information is also available at www.highburyfinancial.com.
Highbury cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and Highbury assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.
Contact: Highbury Financial Inc. Richard S. Foote, 212-688-2341 President and Chief Executive Officer Source: Highbury Financial Inc.
Profile for Highbury Financial, Inc.
Highbury Financial, Inc., an investment management holding company, through its subsidiary, Aston Asset Management LLC, provides permanent capital solutions to mid-sized investment management firms in the United States. It offers permanent equity capital to fund buyouts from corporate parents, buyouts of founding or departing partners, growth initiatives, and exit strategies for private equity funds. The company was founded in 1993 and is based in Denver, Colorado. Detailed HBRFW Company Description...
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