United States Lime & Minerals Reports Repurchase of Shares
DALLAS, March 27, 2012 /PRNewswire/ — United States Lime & Minerals, Inc. (NASDAQ: USLM) today reported that, on March 23, 2012, it had repurchased, in a privately negotiated transaction, 700,000 shares of its common stock from accounts managed by NSB Advisory LLC at a price of $58.00 per share, a discount of 2.2% from the previous day’s closing price of the common stock, for a total consideration of $40,600,000.
“We believe that the transaction presented us with an opportunity to put a portion of our cash to good use in this uncertain economy,” said Timothy W. Byrne, President and Chief Executive Officer.
United States Lime & Minerals, Inc., a NASDAQ-listed public company with headquarters in Dallas, Texas, is a manufacturer of lime and limestone products, supplying primarily the construction, steel, municipal sanitation and water treatment, oil and gas services, aluminum, paper, glass, roof shingle and agriculture industries and utilities and other industries requiring scrubbing of emissions for environmental purposes. The Company operates lime and limestone plants and distribution facilities in Arkansas, Colorado, Louisiana, Oklahoma and Texas through its wholly owned subsidiaries, Arkansas Lime Company, Colorado Lime Company, Texas Lime Company, U.S. Lime Company, U.S. Lime Company – Shreveport, U.S. Lime Company – St. Clair and U.S. Lime Company – Transportation. In addition, the Company, through its wholly owned subsidiary, U.S. Lime Company O & G, LLC, has royalty and non-operating working interests pursuant to an oil and gas lease and a drillsite agreement on its Johnson County, Texas property, located in the Barnett Shale Formation.
Any statements contained in this news release that are not statements of historical fact are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to publicly update or revise any forward-looking statements, and investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from expectations, including without limitation those risks and uncertainties indicated from time to time in the Company’s filings with the Securities and Exchange Commission.
SOURCE United States Lime & Minerals, Inc.