Nassau, Bahamas - On May 20, 2014, the Board of Directors of AML Foods Limited agreed to reinstate the share buyback plan that ended on January 31, 2014. Under the previous program, the Company had repurchased and subsequently cancelled 292,104 of its ordinary shares. The Board of Directors has deemed it prudent, given the illiquid state of the market, to buy back available ordinary shares and, thereby, provide increased earnings per share and maintain stable or increased selling prices for those shareholders needing to divest their portfolio.
The reinstated program will not have a set end date. However, the Board has given a mandate that the share repurchase plan may not exceed 10% of the current outstandingshares. The program will be reviewed annually to assess its viability for shareholders. The Company will commence the plan after the Board meets on June 18, 2014.
About AML Foods Limited: AML Foods Limited was incorporated in 1989 in The Bahamas and is listedon the Bahamas International Securities Exchange. The Company and its subsidiaries are primarily engaged in the operations of retail and club stores offering dry and perishable food items and other consumer products, and the operation of a food franchise business. AML Foods Limited Food Distributionincludes its retail division - Solomon’s Super Center Nassau, Solomon’s Fresh Market, Solomon’s Freeportand Solomon’s Lucaya – and its club division - Cost Right Nassau and Cost Right Freeport; the Company’s Franchise Division consists of eleven Domino’s Pizza locations in Nassau and Freeport and one Carl’s Jr. Restaurant in Nassau . The registered office of the Company is at One Millars Court, off Shirley Street, Nassau, New Providence, Bahamas and the corporate office is at Town Centre Mall, Upper Level, Blue Hill Road, Nassau, New Providence, Bahamas, Tel: 242.677.7200.
About this report: This report may include “forward-looking statements.” While AML Foods Limitedbelieves that the expectations reflected in such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differmaterially from AML Foods’ expectations include external economic conditions, changes in the marketplace, changes in interest rates andaffect the Group’s performance.
