Northern Technologies International Corporation Announces Sales Of NTIC Stock By Inter Alia Under SEC Rule 10b5-1 Trading Plan
MINNEAPOLIS, Aug. 25, 2010 (GLOBE NEWSWIRE) -- Northern Technologies International Corporation (Nasdaq:NTIC) announced today that Inter Alia Holding Company, an entity owned by G. Patrick Lynch, NTIC's President and Chief Executive Officer and a director, as well as three other members of the Lynch family, has commenced sales of NTIC common stock under a pre-arranged trading plan in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and the Company's insider trading policies regarding stock transactions.
As of August 24, 2010, Inter Alia held 628,983 shares of NTIC common stock. Under the terms of the plan, Inter Alia may sell up to 5,000 shares each fiscal quarter through May 31, 2013, subject to satisfaction of certain conditions. All transactions under the plan have been and will continue to be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission.
Rule 10b5-1 permits corporate officers, directors and others to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. Using these plans, insiders may gradually diversify their investment portfolios and spread stock trades over a period of time regardless of any material, non-public information they may receive after adopting the plans. In accordance with Rule 10b5-1, neither Inter Alia nor G. Patrick Lynch will have any discretion over sales under the plan.About Northern Technologies International Corporation Northern Technologies International Corporation develops and markets proprietary environmentally beneficial products and technical services either directly or via a network of joint ventures and independent distributors in over 55 countries. NTIC's primary business is corrosion prevention. NTIC has been selling its proprietary ZERUST® rust and corrosion inhibiting products and services to the automotive, electronics, electrical, mechanical, military and retail consumer markets, for over 35 years. NTIC also offers worldwide on-site technical consulting for rust and corrosion issues. NTIC's technical service consultants work directly with the end users of NTIC's products to analyze their specific needs and develop systems to meet their technical requirements. In addition, NTIC markets proprietary bio-plastic technologies under the Natur- Tec® brand. Finally, NTIC's Polymer Energy® joint venture manufactures and sells advance waste plastic to fuel conversion machines.
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