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.