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Stock Market & Financial Investment News

News Breaks
May 19, 2014
16:45 EDTSCSSteelcase enters stock repurchase pact with independent 3rd party broker
Steelcase announced in a regulatory filing that on April 30, Steelcase entered into a stock repurchase agreement with an independent third party broker under which the broker is authorized to repurchase up to $25M of shares of the company’s common stock on behalf of the company during the period from April 30, through September 23, subject to certain price, market and volume constraints specified in the agreement. The agreement was established in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. The shares will be purchased pursuant to the company’s previously announced share repurchase program and in a manner consistent with applicable laws and regulations, including the provisions of the safe harbor contained in Rule 10b-18 under the Exchange Act.
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