SBLK Good evening my friend. You mentioned SBLK as a shipping stock that has not run up with the industry. I took a starter today and agree with you. A little DD. Reporting on Wednesday, February 15.
ATHENS, GREECE, January 23, 2012 – Star Bulk Carriers Corp. (the “Company” or
“Star Bulk”) (Nasdaq: SBLK), a global shipping company focusing on the transportation
of drybulk cargoes, today announced that its Board of Directors approved the extension
of the Company’s Share Repurchase Plan, which has been in place since 2010, to
December 31, 2012.
The plan calls for the repurchases of Common Stock for up to $30 million 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 calls for the
repurchased shares 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. Any purchases under the plan are
made at the discretion of the Company. The Company has made purchases under the plan
and expects to report the aggregate number of shares purchased and the average price per
share paid on a quarterly basis.
