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Wed 21 Nov 2012 00:37

Aegean announces repurchase programme


Board of directors approves repurchase programme for up to one million shares.

Aegean Marine Petroleum Network Inc. has announced that its board of directors has approved a continuation of its share repurchase programme for up to a total of one million shares of the company's common stock.

In a statement, Aegean said: "The board will review the program after a period of 12 months. Share repurchases will be made from time to time for cash in open market transactions at prevailing market prices or in privately negotiated transactions. The timing and amount of purchases under the program will be determined by management based upon market conditions and other factors.

"The program does not require the company to purchase any specific number or amount of shares and may be suspended or reinstated at any time in the company's discretion and without notice. Purchases will be subject to restrictions under Aegean's senior secured revolving credit facilities."

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