Feb 18 2010
American Physicians Capital, Inc. (NASDAQ:ACAP) today announced it has
completed its October 2, 2009 $10 million authorization under its 10b5-1
stock repurchase plan. The Company has commenced its $20 million
authorization under its 10b5-1 plan approved by its Board of Directors
on December 3, 2009.
Year to date through February 16, 2010, the Company has repurchased
216,900 shares at an average price of $28.51 per share. Since the
inception of our share repurchase program in 2001 through yesterday, the
Company has repurchased 14.5 million shares at an average price of
$19.66 per share. The Company has the following outstanding share
repurchase authorizations:
Depending on market conditions, the Company may conduct additional
discretionary repurchases in the open market or in privately negotiated
transactions during its normal trading windows. Any discretionary
repurchases will be made under the outstanding February 2008
authorization, which has $16.0 million remaining as of today.
In June 2009, the Company’s Board of Directors declared a four-for-three
stock split of its common shares to shareholders. All share and per
share numbers disclosed in this press release are split adjusted.
Source:
American Physicians Capital, Inc.