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Quotes & Info
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| ODC > SEC Filings for ODC > Form 8-K on 20-Jun-2012 | All Recent SEC Filings |
20-Jun-2012
Other Events
On June 20, 2012, the Registrant entered into a stock purchase plan (the "Plan") with Morgan Stanley Smith Barney, LLC ("MSSB") pursuant to which the Registrant may repurchase shares of its Common Stock under previously disclosed stock repurchase authorizations from its Board of Directors. The Plan has been structured in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The Registrant may modify or terminate the Plan, subject to compliance with applicable securities laws, or enter into similar stock purchase plans from time to time in the future.
The Plan is effective from June 27, 2012 through October 31, 2012 (inclusive of both dates) and provides for the Registrant's repurchase of shares of its Common Stock in open market and block transactions that satisfy certain price and volume limitations specified in the Plan. The Plan also requires that all repurchases satisfy the "safe harbor" conditions of Rule 10b-18 under the Exchange Act. There can be no assurance that any shares of the Registrant's Common Stock will in fact be repurchased by the Registrant under the Plan or otherwise.
A previously disclosed stock purchase plan, dated as of April 26, 2012, between the Registrant and MSSB expired in accordance with its terms as a result of the parties completing all of their obligations thereunder.
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