Cienega Creek Holdings, Inc. (CCKH.OB) Announces Completion of Share Buyback and Announces Strategic Business Changes
Cienega Creek Holdings, Inc. was pleased to announce today that it has completed a privately negotiated stock repurchase agreement for 75% of the company's outstanding stock. As terms of the agreement, the company acquired 7 million shares from the estate of its former director and retired the shares through cancelation. This action substantially reduced the number of outstanding shares. The company now has 2,294,250 outstanding shares, 895,250 of which are free-trading and unrestricted. Michael Klinicki, president of the company, commented, "Shareholder value was the driving force behind the purchase. We are committed to providing our shareholders with the very highest…