News Column

MONARCH CEMENT CO FILES (8-K) Disclosing Other Events

June 11, 2014

Item 8.01 Other Events. The Monarch Cement Company is announcing today that it has adopted a Rule 10b5-1 plan for the purpose of repurchasing shares of its capital stock in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934 and Monarch's policies regarding stock transactions. This plan has been established pursuant to, and as part of, Monarch's share repurchase program. As previously announced, on August 5, 2011, Monarch's Board of Directors authorized the purchase, through open market or private transactions, of 101,672 shares of Monarch's Capital Stock and Class B Capital Stock in addition to the then existing 98,328 shares remaining from the Board's 1996 authorization, for a total repurchase authority of 200,000 shares. Management's authorization has no expiration. Management was given discretion to determine the number and pricing of the shares to be purchased, as well as, the timing of any such purchases. As of June 10, 2014, Monarch continued to be authorized by the Board, exercisable in management's discretion, to purchase up to 135,313 shares of Monarch's Capital Stock and Class B Capital Stock. A plan under Rule 10b5-1 allows a company to repurchase its shares at times when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods. A broker selected by Monarch will have the authority under the terms and limitations specified in the plan to repurchase shares on Monarch's behalf in accordance with the terms of the plan. Repurchases are subject to SEC regulations as well as certain price, market volume and timing constraints specified in the plan. Monarch may terminate the plan at any time.



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Source: Edgar Glimpses


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