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Article: Meadowbrook Insurance Group, Inc. Announces Repurchase of Director's Shares.
- Article from:
- PR Newswire
- Article date:
- September 29, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SOUTHFIELD, Mich., Sept. 29 /PRNewswire-FirstCall/ -- Meadowbrook Insurance Group, Inc. announced today that it has repurchased 300,000 shares of Meadowbrook common stock beneficially owned by the Company's Director, Mr. Jeffrey Maffett. The purchase price was $7.72, which is the 30 day average close price as of September 28, 2009, less transactional costs.
Mr. Maffett is Chairman of the Board of Colonial Banc Corp and may be deemed the beneficial owner of 571,765 shares of Meadowbrook common stock owned by Colonial Banc Corp. After the sale of the 300,000 shares, Colonial Banc Corp will own 271,765 shares of Meadowbrook common stock, and Mr. Maffett owns ...
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