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Stock Market & Financial Investment News

News Breaks
May 23, 2014
04:55 EDTOMG, OMG, OMGOM Group management to meet with Topeka
Meetings to be held in Austin on May 28 and in Dallas on May 29 hosted by Topeka.
News For OMG From The Last 14 Days
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January 30, 2015
08:32 EDTOMGOM Group issues statement regarding FrontFour Capital announcement
In response to FrontFour Capital's announcement that it intends to nominate three individuals for election to the company's board, OM Group said, "The Corporate Governance Committee of OM Group's Board will evaluate the notice and proposed director nominees based on established criteria and make a recommendation in due course that is in the best interest of all shareholders. OM Group shareholders are not required to take any action at this time. OM Group is committed to maintaining a sophisticated, engaged and independent Board with a diverse set of relevant experiences, expertise and backgrounds. Since 2011, we have added three highly qualified independent directors, all of whom share the Board's commitment to creating sustainable shareholder value by executing the Company's strategic plan. The execution of our strategic plan included a portfolio transformation that concluded with the 2013 sales of our commodity Advanced Materials and UPC businesses. We have created a higher-quality portfolio of attractive businesses that resulted in a significant expansion of our EV/NTM EBITDA multiple. In 2013 we also reduced our costs by $17 million, cut $15 million of working capital and began returning $50 million of capital to shareholders in the form of share repurchases. In 2014 we initiated a regular quarterly dividend, our Board authorized an additional $50 million of share repurchases, and we completed a value-creating acquisition that is highly complementary to our successful Battery Technologies platform. The Board will continue to actively review and balance all capital allocation alternatives, including returning additional capital to shareholders and supporting business improvement initiatives."

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