Ashland Inc. has established 10b5-1 plans with each of Deutsche Bank Securities and JPMorgan Chase Bank, N.A. to repurchase an aggregate of $250 million of Ashland`s common stock. These plans are part of Ashland`s previously announced $1.35 billion share repurchase authorization and are in addition to the $750 million accelerated share repurchase (ASR) programs announced earlier this week.
Under terms of the 10b5-1 plans, the banks will purchase a pre-determined number of shares on various trading days dependent upon Ashland`s prevailing stock price on that date. The term of the plans is through June 30, 2015, although they may be completed earlier based on market conditions and other factors.
Ashland Inc. Enters into 10b5-1 Plans to Repurchase an Aggregate of $250 Million of Common Stock
Published August 6, 2014
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