B+H Ocean Carriers Authorizes Stock Repurchase
02 Décembre 2008 - 2:00PM
Business Wire
B+H Ocean Carriers Ltd. (Amex: BHO) today announced that its board
of directors authorized the Company to repurchase up to 550,000 of
its common shares, in addition to previously authorized
repurchases. BHO said it plans to buy shares on the open market
from time to time, depending on market conditions. About B+H Ocean
Carriers Ltd. The Company was organized as a corporation under
Liberian law on April 28, 1988 to engage in the business of
acquiring, investing in, owning, operating and selling vessels for
dry bulk and liquid cargo transportation. As of December 1, 2008,
the Company owned and operated five medium-range product tankers,
one Panamax product tanker and five ore/bulk/oil combination
carriers (�OBOs�). The Company also owns a 50% interest in a
company which is the disponent owner of a 1992-built 75,000 DWT
Combination Carrier, effected through a lease structure. Each
vessel accounts for a significant portion of the Company�s
revenues. Safe Harbor Statement This press release, including any
documents incorporated by reference or deemed to be incorporated by
reference, contains �forward-looking statements,� which are
statements relating to future events, future financial performance,
strategies, expectations and competitive environment. Words such as
�may,� �will,� �should,� �could,� �would,� �predicts,� �potential,�
�continue,� �expects,� �anticipates,� �future,� �intends,� �plans,�
�believes,� �estimates� and similar expressions, as well as
statements in the future tense, identify forward-looking
statements. Stockholders should not read forward-looking statements
as a guarantee of future performance or results. They will not
necessarily be accurate indications of whether or at what time such
performance or results will be achieved. Forward-looking statements
are based on information available at the time those statements are
made and/or management�s good faith belief at that time with
respect to future events. Such statements are subject to risks and
uncertainties that could cause actual performance or results to
differ materially from those expressed in or suggested by the
forward-looking statements. Important factors that could cause such
differences include, but are not limited to: uncertainties related
to BHO�s ability to implement BHO�s business strategy;
uncertainties related to litigation; economic and political
conditions in the U.S. and abroad; and other risks outlined in
BHO�s filings with the SEC. All forward-looking statements are
effective only as of the date they are made and BHO disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. These risks and uncertainties include risks related
to BHO�s businesses as well as the factors relating to the
transactions discussed in BHO�s offer to purchase. Stockholders
should not place undue reliance on the forward-looking statements,
which speak only as to the date of the offer to purchase or the
date of documents incorporated by reference. For further
information, including the Company�s Annual Report on Form 20F,
access the Company�s website: www.bhocean.com
B H Ocean Carrier (AMEX:BHO)
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