Art Publisher/Retailer to Repurchase Stock

Martin Lawrence Limited Editions Inc., a Van Nuys art publisher and retailer, said it will repurchase up to about 6% of its common stock, or as many as 500,000 shares, during the next 12 months.

At recent trading prices, such a repurchase would cost about $4 million. Martin Lawrence had about 8.26 million shares outstanding as of Friday.

“The company’s common stock presents an attractive investment opportunity at current prices,” said Allen A. Baron, chief financial officer, in a statement.

Martin Lawrence said it will use cash from operations to buy the stock in both privately negotiated transactions and on the open market. The company will use Paine Webber Inc. as its exclusive agent in the repurchase.