Cooper-Standard Holdings Inc., the parent company ofCooper Standard Automotive, announced today that its Board of Directors has approved a securities repurchase program authorizing the Company to repurchase, in the aggregate, up to$25 millionof its outstanding common stock, 7% cumulative participating convertible preferred stock or warrants to purchase common stock.
Under the program authorized by the Board of Directors, repurchases may be made on the open market or through private transactions, as determined by the Company’s management and in accordance with prevailing market conditions andSecurities and Exchange Commissionrequirements. The Company expects to fund all repurchases from cash on hand and future cash flows from operations. The Company is not obligated to acquire a particular number of securities, and the program may be discontinued at any time at the Company’s discretion. The Board’s authorization terminates onFebruary 14, 2013.
