0001104659-15-075758.txt : 20151104 0001104659-15-075758.hdr.sgml : 20151104 20151104161528 ACCESSION NUMBER: 0001104659-15-075758 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20151104 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20151104 DATE AS OF CHANGE: 20151104 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Matson, Inc. CENTRAL INDEX KEY: 0000003453 STANDARD INDUSTRIAL CLASSIFICATION: WATER TRANSPORTATION [4400] IRS NUMBER: 990032630 STATE OF INCORPORATION: HI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34187 FILM NUMBER: 151197076 BUSINESS ADDRESS: STREET 1: 1411 SAND ISLAND PARKWAY CITY: HONOLULU STATE: HI ZIP: 96819 BUSINESS PHONE: 808-848-1211 MAIL ADDRESS: STREET 1: 1411 SAND ISLAND PARKWAY CITY: HONOLULU STATE: HI ZIP: 96819 FORMER COMPANY: FORMER CONFORMED NAME: ALEXANDER & BALDWIN INC DATE OF NAME CHANGE: 19920703 8-K 1 a15-22113_28k.htm 8-K

 

 

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):  November 4, 2015

 

MATSON, INC.

(Exact Name of Registrant as Specified in its Charter)

 

HAWAII

 

001-34187

 

99-0032630

(State or Other Jurisdiction of
Incorporation)

 

(Commission File Number)

 

(I.R.S. Employer Identification
No.)

 

1411 Sand Island Parkway

 

 

Honolulu, Hawaii

 

96819

(Address of principal executive offices)

 

(zip code)

 

Registrant’s telephone number, including area code: (808) 848-1211

 

 

(Former Name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o               Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o               Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o               Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o               Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 7.01.                                              Regulation FD Disclosure.

 

On November 4, 2015, Matson, Inc. (the “Company”) issued a press release announcing that its board of directors has authorized a program to repurchase up to 3.0 million shares of the Company’s outstanding common stock from time to time in the open market through November 2, 2018.  The Company may enter into Rule 10b5-1 plans to facilitate purchases under the repurchase program.  The repurchase program may be suspended or discontinued at any time.  A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01.                                              Financial Statements and Exhibits.

 

(a) - (c) Not applicable.

 

(d) Exhibits.

 

The exhibit listed below is being furnished with this Form 8-K.

 

99.1                             Press Release issued by Matson, Inc., dated November 4, 2015

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

MATSON, INC.

 

 

 

 

 

/s/ Joel M. Wine

 

Joel M. Wine

 

Senior Vice President and Chief Financial Officer

 

 

Dated: November 4, 2015

 

2


EX-99.1 2 a15-22113_2ex99d1.htm EX-99.1

Exhibit 99.1

 

GRAPHIC

 

 

Investor Relations inquiries:

Jerome Holland

Matson, Inc.

510.628.4021

jholland@matson.com

Media inquiries:

Keoni Wagner

Matson, Inc.

510.628.4534

kwagner@matson.com

 

FOR IMMEDIATE RELEASE

 

MATSON ANNOUNCES SHARE REPUCHASE PROGRAM

 

HONOLULU, Hawaii (November 4, 2015) — Matson, Inc. (“Matson” or the “Company”) (NYSE: MATX), a leading U.S. carrier in the Pacific, today announced that its Board of Directors has authorized a share repurchase program of up to 3.0 million shares of common stock, representing approximately seven percent of the Company’s currently issued and outstanding common stock, through November 2, 2018.

 

“The share repurchase program reflects our commitment to enhancing long-term shareholder value and reaffirms our confidence in the cash flow generation of Matson’s core businesses,” said Matt Cox, Matson’s President and Chief Executive Officer. “Our financial strength provides ample capacity to fund our fleet renewal program, pay down debt and consider growth investments, while continuing to return capital to shareholders.”

 

Shares will be repurchased in the open market from time to time at the Company’s discretion, based on ongoing assessments of the capital needs of the business, the market price of its common stock and general market conditions.  The Company may enter into Rule 10b5-1 plans to facilitate purchases under the program.  The repurchase program may be suspended or discontinued at any time.

 

About the Company

 

Founded in 1882, Matson is a leading U.S. carrier in the Pacific. Matson provides a vital lifeline to the economies of Hawaii, Alaska, Guam, Micronesia and select South Pacific islands, and operates a premium, expedited service from China to Southern California. The Company’s fleet of 25 vessels includes containerships, combination container and roll-on/roll-off ships and custom-designed barges. Matson Logistics, established in 1987, extends the geographic reach of Matson’s transportation network throughout the continental U.S. Its integrated, asset-light logistics services include rail intermodal, highway brokerage and warehousing. Additional information about Matson, Inc. is available at www.matson.com.

 



 

Forward Looking Statements

 

Statements in this news release that are not historical facts are “forward-looking statements,” within the meaning of the Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statement, including but not limited to, statements about generation of cash flow, the timing, manner and volume of repurchases of common shares pursuant to the repurchase program, and the capacity and use of funds. These forward-looking statements are not guarantees of future performance. This release should be read in conjunction with our Annual Report on Form 10-K and our other filings with the SEC through the date of this release, which identify important factors that could affect the forward-looking statements in this release. We do not undertake any obligation to update our forward-looking statements.

 

2


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