15.02.2005 19:13:00
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USANA President Enters Into Pre-Paid Forward Sale of 50,000 Shares of
Business Editors
SALT LAKE CITY--(BUSINESS WIRE)--Feb. 15, 2005--David Wentz, president of USANA Health Sciences Inc. (Nasdaq: USNA), announced today that he has entered into a Maximum Monetization and Asset Protection (MMAPS) agreement, generically known as a variable pre-paid forward sale, with respect to 50,000 shares of USANA common stock.
Under this arrangement, Wentz receives immediate loan proceeds from his brokerage firm, using the shares as collateral. He agrees that the firm will sell up to 50,000 of the shares after two years, to settle the loan. Wentz retains the right to receive at settlement up to 120% of the share value as of the date of the agreement. This arrangement allows Wentz to retain voting rights to the underlying shares and, at the same time, to participate in the potential upside of USANA's stock. "My belief in the company has never been stronger, and I chose this financing method so that I can both increase my holdings in USANA stock and participate in the potential stock appreciation," said Wentz.
About USANA
USANA develops and manufactures high-quality nutritional and personal care products that are sold directly to Associates and Preferred Customers throughout the United States, Canada, Australia, New Zealand, Hong Kong, Japan, Taiwan, South Korea, Singapore, Mexico, the Netherlands and the United Kingdom. More information on USANA can be found at http://www.usanahealthsciences.com.
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CONTACT: USANA Health Sciences Inc., Salt Lake City Riley Timmer, 801-954-7100 investor.relations@us.usana.com
KEYWORD: UTAH INDUSTRY KEYWORD: PHARMACEUTICAL SPORTS MEDICAL BIOTECHNOLOGY ALTERNATIVE MEDICINE SOURCE: USANA Health Sciences Inc.
Copyright Business Wire 2005

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Aktien in diesem Artikel
USANA Health Sciences Inc. | 26,00 | -6,47% |
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Indizes in diesem Artikel
NASDAQ Comp. | 17 754,09 | 2,61% |