Monday, 26 November 2007

AeroMechanical Employees Buy Stock

Despite trying markets, roughly 30 AeroMechanical employees snapped up over 500,000 company shares that company CEO Bill Tempany and President Darryl Jacobs offered up.
The unusual share sale came after both Mr. Tempany and Mr. Jacobs exercised warrants to purchase 1,024,237 AeroMechanical shares.
The warrants were due to expire on November 25th, 2007.
Knowing a host of employees were also interested in purchasing shares, the two top executives offered theirs for sale - at the same price of purchase - and were pleased to see that over 30 staff members, from senior executives to technical employees, bought more than 60% of the stocks.
When the transaction is completed, AeroMechanical directors, officers and senior management will hold roughly 8.3 million shares or 11.7% of outstanding stocks.
All of the funds raised in the overall warrant exercise will go into company coffers.
To view the full press release, please click here.