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bebe stores announces share repurchase
14 Sep '07
1 min read
bebe stores inc announced that a special committee of its board of directors consisting solely of independent directors had approved the repurchase of 5 million shares of its common stock from its former Vice Chairperson Neda Mashouf at a price per share of $13.39, approximately a 2.5 percent discount to the closing price on September 13, 2007.
Ms. Mashouf has also agreed not to sell any additional bebe shares for a period of 30 days. Following the repurchase, Ms. Mashouf will beneficially own approximately 11.6 million shares of bebe's common stock.
The shares acquired will no longer be outstanding, so bebe will have approximately 88,550,000 shares issued and outstanding.
bebe stores inc designs, develops and produces a distinctive line of contemporary women's apparel and accessories, which it markets under the bebe, COLLECTION bebe, BEBE SPORT and bebe O brand names.
Ms. Mashouf has also agreed not to sell any additional bebe shares for a period of 30 days. Following the repurchase, Ms. Mashouf will beneficially own approximately 11.6 million shares of bebe's common stock.
The shares acquired will no longer be outstanding, so bebe will have approximately 88,550,000 shares issued and outstanding.
bebe stores inc designs, develops and produces a distinctive line of contemporary women's apparel and accessories, which it markets under the bebe, COLLECTION bebe, BEBE SPORT and bebe O brand names.
bebe stores inc
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