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INVESTING IN HIMSELF: OAKLEY CHAIR PLANS TO BUY MORE STOCK
Published June 2, 1998
Oakley Chair Jim Jannard will purchase up to an additional three million shares of Oakley stock subject to market conditions. Jannard has purchased almost four million shares since January of last year, and currently owns 38,567,800 shares, or 54.6% of the shares outstanding (Oakley). The WALL STREET JOURNAL reports that the announcement is a demonstration of Jannard's "belief that the stock price is undervalued." A purchase of three million additional shares would bring Jannard's Oakley stake up to 59%. Yesterday, Oakley shares fell $0.25 to $12.8125 a share in NYSE trading (WALL STREET JOURNAL, 6/2).