Polonia Bancorp Announces Share Repurchase Plan

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Polonia Bancorp Announces Share Repurchase Plan

//business-finance.news-articles.net/content/201 .. nia-bancorp-announces-share-repurchase-plan.html

Published in Business and Finance on Friday, July 23rd 2010 at 13:25 GMT by Market Wire
^{🞛 This publication is a summary or evaluation of another publication}

HUNTINGDON VALLEY, Pa.--([ BUSINESS WIRE ])--Polonia Bancorp (OTCBB:PBCP) announced today that its board of directors approved the repurchase of up to 67,032 shares of the Companya�s outstanding common stock, which is approximately 5% of outstanding shares held by persons other than Polonia MHC. Purchases will be conducted solely through a Rule 10b5-1 repurchase plan with Sandler Oa�Neill & Partners, L.P., which plan will become effective following release of the Companya�s report on Form 10-Q for the quarter ended June 30, 2010. Purchases will be based upon the parameters of the Rule 10b5-1 repurchase plan.

The Rule 10b5-1 repurchase plan allows the Company to repurchase its shares during periods when it would normally not be active in the market due to its internal trading blackout period. There is no guarantee as to the exact number of shares to be repurchased by the Company. Repurchased shares will be held in treasury.

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