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Carpenter Announces 10b5-1 Share Repurchase Plan
09/11/2007 - Carpenter Technology enters into a Rule 10b5-1 Plan to facilitate the repurchase of up to $115 million of its common stock.
Carpenter Technology Corp. has entered into a Rule 10b5-1 Plan under the Securities Exchange Act of 1934, as amended, to facilitate the repurchase of up to $115 million of its common stock.
Carpenter anticipates that it will complete its purchases under the Plan by the end of its third fiscal quarter ending March 31, 2008. Shares will be purchased under the company’s currently authorized $250 million share repurchase program.
Since the end of the company’s fiscal year on June 30, 2007, Carpenter has purchased 894,868 shares for $102,630,329 (an average of $114.69 per share) as of September 7, 2007. Under the current $250-million share repurchase authorization (prior to commencing the Rule 10b5-1 Plan), the company has repurchased a total of 1,129,940 shares for $131,473,638 (an average of $116.38 per share).
