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Stock Market & Financial Investment News

News Breaks
March 29, 2013
11:54 EDTNPOConversion right triggered on EnPro's convertible senior debentures
EnPro Industries announced that commencing April 1, the company's $172,500,000 aggregate principal amount of 3.9375% Convertible Senior Debentures due 2015 will be convertible by holders of the Debentures. This conversion right has been triggered because the closing price per share of EnPro’s common stock has exceeded $43.93, or 130% of the initial conversion price of $33.79, for at least 20 of 30 consecutive trading days during the period ending on March 31. At the time of the sale of the Debentures, a portion of the net proceeds was used to enter into call options, hedge and warrant transactions, which entitle the company to purchase shares of its common stock from a financial institution at $33.79 per share and entitle the financial institution to purchase shares from the company at $46.78 per share. These transactions reduce potential dilution to holders of the company’s common stock from conversion of the Debentures by increasing the effective conversion price to $46.78 a share.
News For NPO From The Last 14 Days
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February 26, 2015
07:11 EDTNPOGabelli to hold a conference
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February 19, 2015
18:23 EDTNPOEnPro CFO Alexander W. Pease to resign replaced by J. Milton Childress
EnPro announced that J. Milton Childress will assume the responsibilities of Senior VP and CFO on March 31 replacing Alexander W. Pease, who has announced his resignation as senior VP and CFO effective as of that date in order to accept a new career opportunity which he expects to finalize in the coming weeks. Pease has agreed to remain with EnPro in an advisory capacity through May 31 to ensure an orderly transition. Childress is currently EnPro’s VP, strategic planning and business development, a position he has held since February 2006. He joined EnPro in December 2005.
18:19 EDTNPOEnPro approves $80M stock repurchase program
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18:18 EDTNPOEnPro CEO: volatility and currency issues will have "negative effect" in FY15
EnPro CEO Steve Macadam stated, “Economic volatility outside of North America and slowing project and maintenance spending in the oil and gas markets could result in lower demand levels in a few of our businesses. In addition, the weakening of the euro and other foreign currencies will likely have a negative translation effect on our sales and earnings for the year. Longer term, we expect continued benefits from our strategic growth initiatives including growth from recent and future strategic acquisitions,”
18:16 EDTNPOEnPro reports Q4 adjusted EPS 57c, consensus 40c
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