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Quotes & Info
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| SGMS > SEC Filings for SGMS > Form 8-K on 6-Dec-2012 | All Recent SEC Filings |
6-Dec-2012
Change in Directors or Principal Officers, Other Events
By letter dated November 30, 2012, Eric M. Turner notified Scientific Games Corporation (the "Company") of his intent to resign as a member of the Board of Directors of the Company (the "Board") effective after the Board meeting held on December 6, 2012 in order to focus on his other professional and personal commitments.
On December 6, 2012, the Board approved an extension of the Company's existing stock repurchase program to December 31, 2013. The program, originally announced in May 2010, was due to expire on December 31, 2012. Under the program, the Company is authorized to repurchase, from time to time through open market purchases or otherwise, shares of its outstanding common stock in an aggregate amount up to $200 million. As of December 6, 2012, the Company had approximately $105.2 million available for potential repurchases under the program. Any repurchases would be funded by cash flows from operations, borrowings, or a combination thereof. A pricing committee of the Board of Directors will determine the share price of any repurchases, and the timing and amount of any repurchases will be determined by the Company's management based on its evaluation of market conditions and other factors. The program may be suspended or discontinued at any time.
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