Star Bulk Approves Finance Moves

Thursday, January 24, 2008
Star Bulk Carriers Corp. (NASDAQ:SBLK) announced that its board of directors has approved a plan for the repurchase of up to an aggregate of $50 million of its Common Stock and Warrants which may be repurchased by the Company from time to time until December 31, 2008.

The plan calls for the repurchases of both Common Stock and Warrants to be made in open market or privately negotiated transactions in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, subject to market and business conditions, applicable legal requirements and other factors. The plan will be implemented by the Company's management at its discretion. The plan calls for the repurchased shares and warrants to be retired as soon as practicable following the repurchase. The plan does not obligate the Company to purchase any particular number of shares, and may be suspended at any time at the Company's discretion in accordance with Rule 10b-18.

Akis Tsirigakis, President and CEO of Star Maritime commented: "Our plan to repurchase and retire a portion of our Common Stock and Warrants reaffirms our confidence and optimism in the long term future of the Company and is a testimony of our commitment to seek ways to increase shareholder value. We believe it is in the best interest of the Company and its stockholders to utilise the Company's healthy cash position and strong contracted revenue stream to repurchase a portion of the Company's Common Stock and Warrants at these levels."

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Diana Shipping Invests in Diana Containerships

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels, has announced that it has entered into an agreement to purchase

Coast Guard Responds to Grounded Freighter in Lake St. Clair

The Coast Guard has responded Sunday to a 656-foot freighter that was hard aground in the downbound shipping channel of Lake St. Clair. Initial reports indicate

Leighton HY14 net margin Up to 2.7%

Leighton Holdings announced its results for the six months to 30 June 2014.   * Total revenue of $11.9 billion, up on HY13 * EBITDAiii of $843 million. Comparable EBITDAiv of $945 million,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1384 sec (7 req/sec)