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CHMT > SEC Filings for CHMT > Form 8-K on 12-Nov-2013All Recent SEC Filings

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Form 8-K for CHEMTURA CORP


12-Nov-2013

Other Events


Item 8.01 Other Events.

As previously disclosed, on May 9, 2013, the Board of Directors authorized an increase in the Company's share repurchase program from $100 million to up to $141 million and extended the program to March 31, 2014. As of November 11, 2013, the Company had purchased approximately 5.8 million shares of common stock for approximately $93 million. On November 12, 2013, the Board of Directors authorized a further increase in the share repurchase program by $50 million (up to $191 million in the aggregate when combined with the May 9, 2013 authorization). The Board of Directors also authorized an additional $100 million under the share repurchase program upon the closing of the previously announced sale of the Consumer Products business (up to $291 million in the aggregate when combined with the May 9, 2013 authorization). The Board of Directors also extended the authorizations under the share repurchase program through and including November 9, 2014. The shares are expected to be repurchased from time to time through open market purchases. The program, which does not obligate the Company to repurchase any particular amount of common stock, may be modified or suspended at any time at the Board's discretion. The manner, price, number and timing of such repurchases, if any, will be subject to a variety of factors, including market conditions and the applicable rules and regulations of the SEC.

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