Era Group Inc. Announces Share Repurchase Authorization
HOUSTON, TX -- (Marketwired) -- 08/14/14 -- Era Group Inc. (NYSE: ERA) ("Era") today announced that its Board of Directors authorized the repurchase of up to $25 million in value of its common stock from time to time. The repurchase authorization permits the Company to make repurchases on a discretionary basis as determined by an Executive Committee of the Company's Board of Directors, subject to market conditions, applicable legal requirements, available liquidity, compliance with the Company's debt arrangements and other appropriate factors. Acquisitions under this repurchase authorization are to be made through open market or privately negotiated transactions and may be made pursuant to plans entered into in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. This repurchase authorization does not obligate Era to acquire any particular amount of common stock and may be modified, extended, suspended or discontinued at any time without prior notice. Era intends to fund any repurchases under this authorization from its cash on hand. No assurance can be given that any particular amount of common stock will be repurchased.
About Era Group
Era Group is one of the largest helicopter operators in the world and the longest serving helicopter transport operator in the U.S. In addition to servicing its U.S. customers, Era Group also provides helicopters and related services to third-party helicopter operators and customers in other countries, including Brazil, India, Norway, Spain, Sweden, and the United Kingdom. Era Group's helicopters are primarily used to transport personnel to, from and between offshore installations, drilling rigs and platforms.
For additional information concerning Era Group, contact Ben Slusarchuk at (281) 606-4872 or visit Era Group's website at www.eragroupinc.com.
Source: Era Group Inc.
Released August 14, 2014