FAIRSTAR HEAVY TRANSPORT N.V. announces share repurchase program
(Thomson Reuters ONE) -
Fairstar Heavy Transport N.V. (FAIR) announces a share repurchase program
commencing today. Fairstar was given authority by its shareholders at the 2011
Annual General Meeting to repurchase up to ten percent of its outstanding
shares. Under the terms of the Company's bond loan agreement, Fairstar can
repurchase shares so long as they are repurchased to satisfy the Company's
obligations under its employee option program. Fairstar has to date issued a
total of 1,200,000 options to employees. Under a previous share repurchase
program Fairstar had repurchased 85,492 shares. This program was terminated at
the close of business last Thursday.
Ingmar den Blanken, Treasurer of Fairstar, "The price level of our shares is
still at a level that provides us with a cost effective opportunity to satisfy
our needs under our employee option plan. We have applied to the Oslo Stock
Exchange to purchase up to 50% of the daily turnover for the calendar month
prior to commencing this program today. The program will remain in effect for
the next thirty days. "
For further information please contact:
Philip Adkins, CEO (philip.adkins(at)fairstar.com)
Web:www.fairstar.com
Tel: +31 (0)10-403 5333
***
Profile Fairstar Heavy Transport
Fairstar Heavy Transport N.V. is a leading provider of marine heavy transport
solutions, specializing in high-value cargoes for the offshore and onshore
energy and construction industries. Fairstar owns and operates two of the most
modern semi-submersible heavy transport ships in the global fleet, FJORD and
FJELL. The 50,000DWT, open-stern semi-submersible vessels FORTE and FINESSE are
currently under construction with Guangzhou Shipbuilding International in China
and will be owned and operated by Fairstar when they are delivered in 2012.
Fairstar is based in Rotterdam and quoted on the Oslo Stock Exchange (ticker:
FAIR).
Press release (PDF:
http://hugin.info/143837/R/1551452/477839.pdf
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originality of the information contained therein.
Source: Fairstar Heavy Transport NV via Thomson Reuters ONE
[HUG#1551452]
Unternehmensinformation / Kurzprofil:
Datum: 03.10.2011 - 08:59 Uhr
Sprache: Deutsch
News-ID 71592
Anzahl Zeichen: 2787
contact information:
Town:
ROTTERDAM
Kategorie:
Business News
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