GONZALES, La., June 16, 2008 (PRIME NEWSWIRE) -- Crown Crafts, Inc. (Nasdaq:CRWS) (the "Company") announced today that Zenon S. Nie, Lead Director of the Company's Board of Directors, has adopted a prearranged stock trading plan to purchase shares of Crown Crafts common stock over a period from July 14, 2008 through November 12, 2008. Mr. Nie currently owns 38,282 shares of the Company's common stock, including 8,198 shares purchased on June 13, 2008.
The stock trading plan was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as well as the Company's policies with respect to purchases and sales of shares held by officers and directors. Transactions under the plan will be disclosed through filings with the Securities and Exchange Commission.
Rule 10b5-1 permits officers and directors of public companies to adopt predetermined plans for purchasing or selling specified amounts of stock. The plans may be entered into only when the director or officer is not in possession of material, non-public information.
Crown Crafts, Inc. designs, markets and distributes infant and juvenile consumer products, including bedding, blankets, bibs, bath items and accessories. Its operating subsidiaries include Hamco, Inc. in Louisiana and Crown Crafts Infant Products, Inc. in California. Crown Crafts is America's largest producer of infant bedding, bibs and bath items. The Company's products include licensed and branded collections as well as exclusive private label programs for certain of its customers.