Beacon Enterprise Solutions Senior Management to Make Individual Voluntary
Open Market Stock Purchases
-- Executives and Directors to Make Voluntary Purchases of Beacon Stock After
Current Blackout Period Ends --
-- Company Intends to Establish Formal Executive Stock Purchase Program in
LOUISVILLE, Ky., April 25, 2012
LOUISVILLE, Ky., April 25, 2012 /PRNewswire/ -- Beacon Enterprise Solutions
Group, Inc. (OTC BB: BEAC) (www.askbeacon.com), an emerging global leader in
the design, implementation and management of high performance Information
Technology Systems ("ITS") infrastructure solutions, today announced that the
Company's senior management and directors will begin making voluntary open
market purchases of the Company's common stock at various prices; and that the
Company intends to establish a formal Executive Stock Purchase Program in the
A number of the Company's senior executives have expressed a desire to
re-engage in voluntary, open market stock purchases beginning May 4, 2012, (a
minimum of 48 hours after the filing of the Company's Form 10Q for the second
fiscal quarter ended March 31, 2012). All open market purchases will be made
with personal funds at various discretionary times and prices and will have no
impact on the Company's financial statements or cash balance. These open
market purchases are a continuation of previous, voluntary purchases of Beacon
stock by various executives and is expected to continue in the future.
Currently, insiders of Beacon are subject to a blackout period, and prohibited
from purchasing stock, due to the recent ending of the Company's fiscal second
quarter 2012 and upcoming 10Q filing with the SEC. The Company recognizes the
recent volatility in its stock price and that executives and directors may
voluntarily purchase shares in the open market at their discretion, subject to
applicable securities laws, after the blackout period ends. Individuals may
make purchases from time to time at prices of their choosing. The Company
also intends to support the individual usage of an Executive Stock Purchase
Program in response to management's desire to individually acquire additional
shares on a voluntary, discretionary and regular basis thereafter.
"While we've experienced some recent challenges, our confidence in our
business model and prospects for the future remain strong," stated Bruce
Widener, CEO and Chairman of Beacon Solutions. "The executive team and board
believe the Company's market value and growth prospects are not fairly
reflected in its current share price, which represents a unique opportunity
for our personal investment in additional Beacon shares. We're committed to
leveraging our operational and execution expertise in the global ITS
infrastructure market to maintain significant annual revenue growth, to
achieve sustainable profitability, and to build long-term value for our
shareholders, customers, partners and employees."
About Beacon Enterprise Solutions Group, Inc.
Beacon Enterprise Solutions Group is an emerging global leader in the design,
implementation and management of high performance Information Technology
Systems ("ITS") infrastructure solutions. Beacon offers fully integrated,
turnkey IT infrastructure solutions capable of fully servicing the largest
companies in the world as they increasingly outsource to reduce costs while
optimizing critical IT design and infrastructure management. Beacon is
headquartered in Louisville, Kentucky, with regional headquarters in
Cincinnati, Ohio, Dublin, Ireland, Prague, Czech Republic and personnel
located throughout the United States and Europe.
For additional information, please visit Beacon's corporate website:
This press release may contain "forward-looking statements." Expressions of
future goals and similar expressions reflecting something other than
historical fact are intended to identify forward-looking statements, but are
not the exclusive means of identifying such statements. These forward-looking
statements may include, without limitation, statements about our market
opportunity, strategies, competition, expected activities and expenditures as
we pursue our business plan. Although we believe that the expectations
reflected in any forward-looking statements are reasonable, we cannot predict
the effect that market conditions, customer acceptance of products, regulatory
issues, competitive factors, or other business circumstances and factors
described in our filings with the Securities and Exchange Commission may have
on our results. The company undertakes no obligation to revise or update any
forward-looking statements in order to reflect events or circumstances that
may arise after the date of this press release.
Bruce Widener, CEO
Porter, LeVay & Rose, Inc.
Michael Porter, President
Halliburton Investor Relations
Geralyn DeBusk, President, or Hala Elsherbini, COO
SOURCE Beacon Enterprise Solutions Group, Inc.
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