EnPro Industries Settles Previously Announced Call Option Transactions
EnPro Industries, Inc. (NYSE:NPO) announced today that it has settled the previously announced acceleration of certain call options, consisting of hedge and warrant transactions entered into in connection with the issuance of its 3.9375% Convertible Senior Debentures due 2015, which resulted in a net-share settlement of approximately 0.9 million shares being delivered to the company.
Together with the recently completed share repurchase program, the company has reduced the number of shares outstanding by approximately 2.1 million shares since December 31, 2014. “These transactions further demonstrate our continued commitment to building shareholder value,” said Steve Macadam, president and chief executive officer of EnPro Industries.
About EnPro Industries
EnPro Industries, Inc. is a leader in sealing products, metal polymer and filament wound bearings, components and service for reciprocating compressors, diesel and dual-fuel engines and other engineered products for use in critical applications by industries worldwide. For more information about EnPro, visit the company’s website at http://www.enproindustries.com.
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