UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): December 8, 2014 (December 5, 2014)
WABCO HOLDINGS INC.
(Exact name of registrant as specified in its charter)
Delaware | 1-33332 | 20-8481962 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) | ||
Chaussee de Wavre, 1789 1160 Brussels, Belgium
2770 Research Drive Rochester Hills, MI |
48309-3511 | |||
(Address of principal executive offices) | (zip code) |
Registrants telephone number, including area code: 32-2-663-9-800
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c) |
ITEM 8.01 Other Events.
On December 5, 2014, the Board of Directors of WABCO Holdings Inc. (the Company) authorized the company to enter into an additional two-year share repurchase program. The board authorization allows for the repurchase of up to an additional $500 million of common shares at the discretion of management from December 5, 2014 through December 31, 2016.
ITEM 9.01 Financial Statements and Exhibits.
(d) | Exhibits |
The following exhibits are filed or furnished as part of this report to the extent described in Item 8.01
99.1 | Press Release dated December 8, 2014. |
INFORMATION CONCERNING FORWARD-LOOKING STATEMENTS
Comments in this report, and in the exhibit attached hereto contain certain forward-looking statements, which are based on managements good faith expectations and beliefs concerning future developments. Actual results may differ materially from these expectations as a result of many factors. These factors include, but are not limited to, the risks and uncertainties described in the Risk Factors section and the Forward Looking Statements section of WABCOs Annual Report on Form 10-K, as well as in the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of OperationsInformation Concerning Forward Looking Statements sections of WABCOs Form 10-Q Quarterly Reports. WABCO does not undertake any obligation to update such forward-looking statements. All market and industry data are based on Company estimates.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: December 8, 2014 | WABCO HOLDINGS INC. | |||||
By: | /s/ Vincent Pickering | |||||
Name: | Vincent Pickering | |||||
Title: | Chief Legal Officer and Secretary |
Exhibit 99.1
WABCO Board of Directors Authorizes Additional $500M Share Buyback Program
BRUSSELS, Belgium, December 8, 2014 WABCO Holdings Inc. (NYSE: WBC), a leading global supplier of technologies to improve the safety and efficiency of commercial vehicles, today announced that on December 5, 2014 its board of directors authorized the company to enter into an additional two-year share repurchase program.
The new board authorization allows for the repurchase of up to an additional $500 million of common shares at the discretion of management from December 5, 2014 through December 31, 2016. Since the initiation of WABCOs first share buyback program in June 2011, the company has returned $962 million in cash to shareowners through the repurchase of 13,483,461 million shares in open market transactions.
This latest share buyback authorization from our board of directors is good news for WABCO shareowners, said Jacques Esculier, WABCO Chairman and Chief Executive Officer. It demonstrates our ongoing commitment to deliver value to them, in this case by returning cash.
About WABCO
WABCO (NYSE: WBC) is a leading global supplier of technologies and control systems for the safety and efficiency of commercial vehicles. Founded nearly 150 years ago, WABCO continues to pioneer breakthrough electronic, mechanical and mechatronic technologies for braking, stability and transmission automation systems supplied to the worlds leading commercial truck, bus and trailer manufacturers. With sales of $2.7 billion in 2013, WABCO is headquartered in Brussels, Belgium. For more information, visit www.wabco-auto.com
Forward-Looking Statements
This document contains certain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 that are based on managements good faith expectations and beliefs concerning future developments. Statements preceded by, followed by or that otherwise include the words believes, expects, anticipates, strategies, prospects, intends, projects, estimates, plans, may increase, may fluctuate, and similar expressions or future or conditional verbs such as will, should, would, may and could are generally forward looking in nature and not historical facts. Actual results may
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differ materially from these expectations as a result of many factors. These factors include, but are not limited to, the actual level of commercial vehicle production in our end markets, adverse developments in the business of our key customers, pricing changes to our supplies or products, our ability to successfully integrate any acquired businesses or our acquired businesses not performing as planned and the other risks and uncertainties described in the Risk Factors section and the Information Concerning Forward Looking Statements section of WABCOs Form 10-K, as well as in the Managements Discussion and Analysis of Financial Condition and Results of Operations - Information Concerning Forward Looking Statements section of WABCOs Form 10-Q Quarterly Reports. WABCO does not undertake any obligation to update such forward-looking statements. All market and industry data are based on company estimates.
Media, investors and analysts contact
Christian Fife, +1 732 369 7465, christian.fife@wabco-auto.com
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