ATHENS, GREECE--(Marketwire -01/23/12)- Star Bulk Carriers Corp. (the "Company" or "Star Bulk") (NASDAQ: SBLK - News), a global shipping company focusing on the transportation of drybulk cargoes, today announced that its Board of Directors approved the extension of the Company's Share Repurchase Plan, which has been in place since 2010, to December 31, 2012.
The plan calls for the repurchases of Common Stock for up to $30 million to be made in open market or privately negotiated transactions in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended, subject to market and business conditions, applicable legal requirements and other factors. The plan calls for the repurchased shares to be retired as soon as practicable following the repurchase. The plan does not obligate the Company to purchase any particular number of shares, and may be suspended at any time at the Company's discretion. Any purchases under the plan are made at the discretion of the Company. The Company has made purchases under the plan and expects to report the aggregate number of shares purchased and the average price per share paid on a quarterly basis. http://finance.yahoo.com/news/Star-Bulk-Extends-Share-iw-3937632324.html?x=0
SBLK- from the conference call:
Since the extension of the repurchase plan, we have purchased 319,000 shares at an average price of $0.98 per share. We announced the repurchase plan on January 23, and on January 31, the trading window was closed for the reporting of our financial statements. http://seekingalpha.com/article/372291-star-bulk-carriers-ceo-discusses-q4-2011-results-earnings-call-transcript?source=yahoo