Natural
Gas Services Group announces 'lock up' of 1.9 million shares for
six months
Posted: 2 October 2003
Natural Gas Services Group, Inc. (AMEX:NGS), a leading provider
of equipment and services to the natural gas and oil industry, announces
that executive officers and directors that are major shareholders,
have agreed, pursuant to lock-up agreements relating to the transfer
of shares of the common stock, that they will not sell, transfer,
hypothecate or convey the 1,885,302 shares of common stock they
now own, by registration or otherwise, for a period of six months
ending April 21, 2004.
These shares have been subject to a lock up agreement executed
at the time of the initial public offering on October 21, 2002.
Wayne Vinson, President and CEO of Natural Gas Services Group,
Inc. said, "We strongly believe our stock is undervalued, an
attractive investment opportunity and we’re not selling. This
move intends to boost the stock’s value because we believe
there is a strong up-side potential in our market value and our
senior managers and directors want to send that message loud and
clear.”
About Natural Gas Services Group, Inc. (NGSG)
NGSG manufactures, fabricates, sells, leases and services natural
gas compressors that enhance the production of oil and gas wells.
The Company also manufactures and sells flare systems and flare
ignition systems for plant and production facilities.
For more information visit the Company's website at www.ngsgi.com.
Posted by Richard Price,
Editor Pipeline Magazine
Information supplied by companies
or PR agencies who are responsible for content. Send press releases
to info@pipelinedubai.com |
