Channell Commercial Corporation (CHNL) Approves Stock Buyback Plan

October 9, 2008 2:41 PM EDT

Channell Commercial Corporation (NASDAQ: CHNL) has approved a stock repurchase program in an amount not to exceed $200,000 in the aggregate in a fiscal year subject to the conditions and limitations contained in its domestic loan agreement or as otherwise agreed to by the Company's lender. The Company has approximately 9.5 million shares outstanding as of June 30, 2008.

Channell Commercial Corporation is a designer and manufacturer of telecommunications equipment supplied to communications network operators worldwide and water harvesting solutions distributed in markets throughout Australia and North America. [SM]

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