Seacor increases securities repurchase authorityCompany News // November 25, 2005
Seacor Holdings in the US has announced that its Board of Directors has increased its authorization for repurchases pursuant to its previously announced securities repurchase programme.
With this increase, Seacor has approximately US$50 million available for such purchases.
The securities covered by the repurchase programme include Seacorís common stock, its 7.2% senior notes due 2009, its 5 7/8% senior notes due 2012, its 2.875% convertible senior debentures due 2024, and the 9 1/2% senior notes due 2013 of Seabulk International, a wholly- owned subsidiary.
The repurchase of securities may be conducted from time to time through open market purchases, privately negotiated transactions or otherwise depending on market conditions.