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): | April 28, 2011 |
P. H. Glatfelter Company
__________________________________________
(Exact name of registrant as specified in its charter)
Pennsylvania | 001-03560 | 23-0628360 |
_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
96 S. George Street, Suite 500, York, Pennsylvania | 17401 | |
_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
Registrants telephone number, including area code: | 717 225 4711 |
Not Applicable
______________________________________________
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:
[ ] 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 April 28, 2011, P. H. Glatfelter Company (the "Company") announced that its Board of Directors authorized a share repurchase program for up to $50 million of its common stock. The Company intends to make repurchases in accordance with applicable securities regulations.
A copy of the press release issued by the Company announcing the share repurchase program is filed as Exhibit 99.1 hereto and is incorporated herein by reference.
Information regarding share repurchases will be available in the Company's periodic reports on Form 10-Q and 10-K filed with the Securities and Exchange Commission as required by the applicable rules of the Exchange Act.
Item 9.01 Financial Statements and Exhibits.
The following exhibit is filed herewith.
99.1 - A copy of the press release dated April 28, 2011 announcing a $50 million share repurchase program.
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.
P. H. Glatfelter Company | ||||
April 28, 2011 | By: |
/s/ John P. Jacunski
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Name: John P. Jacunski | ||||
Title: Senior Vice President and Chief Financial Officer |
Exhibit Index
Exhibit No. | Description | |
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99.1
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A copy of the press release dated April 28, 2011 announcing a $50 million share repurchase program. |
EXHIBIT 99.1
For Immediate Release | Contacts:
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Investors:
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Media: | |||
John P. Jacunski
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William T. Yanavitch | |||
(717) 225-2794
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(717) 225-2747 |
GLATFELTER ANNOUNCES
$50 MILLION SHARE REPURCHASE AUTHORIZATION
YORK, Pennsylvania April 28, 2011 Glatfelter (NYSE: GLT) today announced that its Board of Directors has authorized a share repurchase program for up to $50 million of its outstanding common stock.
The company intends to make these repurchases over the next year in accordance with applicable securities regulations. The timing and actual number of shares repurchased, if any, will depend on a variety of factors including the market price of the companys common stock, regulatory, legal and contractual requirements, and other market factors. The program, which does not obligate the company to repurchase any particular amount of common stock, may be modified or suspended at any time at the Boards discretion.
Todays action by the Board is a clear reflection of its continued confidence in Glatfelters strategic direction and our ability to generate consistently strong free cash flow said Dante C. Parrini, president and chief executive officer. While we will continue to invest selectively in growth initiatives and attractive acquisitions that meet our high standards for appropriate returns, we now have the financial flexibility necessary to seek additional value creation from share repurchases.
Caution Concerning Forward-Looking Statements
Any statements included in this press release which pertain to future financial and business matters are forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. These statements are based on managements current expectations and are subject to numerous risks, uncertainties and other unpredictable or uncontrollable factors which may cause actual results or performance to differ materially from the Companys expectations. Various risks and factors that could cause future results to differ materially from those expressed in the forward-looking statements include, but are not limited to: changes in industry, business, market, political and economic conditions in the U.S. and other countries in which Glatfelter does business, demand for or pricing of its products, changes in tax legislation, governmental laws, regulations and policies, initiatives of regulatory authorities, acquisition integration risks, technological changes and innovations, market growth rates, cost reduction initiatives, and other factors. In light of these risks, uncertainties and other factors, the forward-looking events discussed in this press release may not occur and readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements speak only as of the date of this press release and Glatfelter undertakes no obligation, and does not intend, to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release. More information about these factors is contained in Glatfelters filings with the U.S. Securities and Exchange Commission, which are available at www.glatfelter.com.
About Glatfelter
Headquartered in York, PA, Glatfelter is a global manufacturer of specialty papers and fiber-based engineered materials, offering over a century of experience, technical expertise and world-class service. U.S. operations include facilities in Spring Grove, PA and Chillicothe and Fremont, OH. International operations include facilities in Canada, Germany, France, the United Kingdom and the Philippines, a representative office in China and a sales and distribution office in Russia. Glatfelters sales approximate $1.5 billion annually and its common stock is traded on the New York Stock Exchange under the ticker symbol GLT. Additional information may be found at www.glatfelter.com.
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