Ruger Announces the Repurchase of 4.3 Million Shares of Its Common Stock at $5.90 Per Share
September 26, 2006
Sturm, Ruger & Company, Inc. (NYSE:RGR) today announced that the Company repurchased 4,272,000 shares of its common stock, representing 15.9% of the total shares outstanding from its largest shareholder, Ruger Business Holdings, L.P. The purchase price of $5.90 per share results in a total purchase price of $25,204,800. Yesterday, the closing price of the Company's stock on the New York Stock Exchange was $7.32. Following this transaction, the Company's total number of outstanding shares is 22,638,720.
Ruger Management, Inc. is the sole general partner of Ruger Business Holdings, L.P. and is owned by William B. Ruger, Jr. and Carolyn R. Vogel, the son and daughter of Company founder William B. Ruger. Mr. Ruger, Jr. resigned as Chairman of the Board of Directors of Sturm, Ruger & Co., Inc. on February 13, 2006, and retired as its Chief Executive Officer on February 28, 2006. The William B. Ruger Revocable Trust of 1988 is the sole limited partner of Ruger Business Holdings, L.P.
About Sturm, Ruger & Co., Inc.
Sturm, Ruger & Co., Inc. is one of the nation's leading manufacturers of rugged,
reliable firearms for the commercial sporting market. The only full-line manufacturer
of American-made firearms, Ruger offers consumers over 400 variations of more than
30 product lines. For more than 60 years, Ruger has been a model of corporate and
community responsibility. Our motto, “Arms Makers for Responsible Citizens®,”
echoes the importance of these principles as we work hard to deliver quality and
The Company may, from time to time, make forward-looking statements and projections
concerning future expectations. Such statements are based on current expectations
and are subject to certain qualifying risks and uncertainties, such as market demand,
sales levels of firearms, anticipated castings sales and earnings, the need for
external financing for operations or capital expenditures, the results of pending
litigation against the Company, the impact of future firearms control and environmental
legislation, and accounting estimates, any one or more of which could cause actual
results to differ materially from those projected. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the date made.
The Company undertakes no obligation to publish revised forward-looking statements to
reflect events or circumstances after the date such forward-looking statements are made
or to reflect the occurrence of subsequent unanticipated events.
Sturm, Ruger & Co., Inc. “Arms Makers for Responsible Citizens®”