Star Bulk Updates on Company's Share Repurchase Plan
Friday, 27 April 2012 | 00:00
Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes by sea, announced yesterday that the Company has repurchased approximately 600,000 shares of its common stock up to April 25th 2012. These repurchases were made under its previously announced share repurchase plan of up to $30 million, which was authorized in 2010 and expires on December 31, 2012. The Company plans to cancel these shares from its outstanding share capital on or about May 4, 2012.
The Company intends to continue acquiring its common shares in the open market at prices and amounts in its sole discretion.
Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and maintains executive offices in Athens, Greece. Its common stock trades on the Nasdaq Global Market under the symbol "SBLK". Currently, Star Bulk's fleet consists of 14 dry bulk carriers, consisting of six Capesize vessels and eight Supramax vessels and a combined cargo carrying capacity of 1,475,005 deadweight tons and an average age of approximately 10 years.
Source: Star Bulk Carriers Corp.
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