CYS Investments, Inc. Announces $250M Stock Repurchase Program
NEW YORK -- November 15, 2012
CYS Investments, Inc. (NYSE: CYS) (the "Company") today announced that its
Board of Directors has authorized the repurchase of shares of the Company’s
common stock having an aggregate value of up to $250 million.
As part of the stock repurchase program, shares may be purchased in open
market transactions, including through block purchases, through privately
negotiated transactions, or pursuant to any trading plan that may be adopted
in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”). Open market repurchases will be made in
accordance with Exchange Act Rule 10b-18, which sets certain restrictions on
the method, timing, price and volume of open market stock repurchases. The
timing, manner, price and amount of any repurchases will be determined by the
Company in its discretion and will be subject to economic and market
conditions, stock price, applicable legal requirements and other factors. The
authorization does not obligate the Company to acquire any particular amount
of common stock and the program may be suspended or discontinued at the
Company’s discretion without prior notice.
About CYS Investments, Inc.
CYS Investments, Inc. is a specialty finance company that invests on a
leveraged basis in residential mortgage pass-through certificates for which
the principal and interest payments are guaranteed by Fannie Mae, Freddie Mac
or Ginnie Mae. The Company refers to these securities as Agency RMBS. CYS
Investments, Inc. has elected to be taxed as a real estate investment trust
for federal income tax purposes.
Forward-Looking Statements Disclaimer
This press release contains “forward-looking statements” made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995, including those relating to the planned stock repurchase program.
Forward-looking statements typically are identified by use of the terms such
as “believe,” “expect,” “anticipate,” “estimate,” “plan,” “continue,”
“intend,” “should,” “may” or similar expressions. Forward-looking statements
are based on the Company's beliefs, assumptions and expectations of the
Company's future performance, taking into account all information currently
available to the Company. The Company cannot assure you that actual results
will not vary from the expectations contained in the forward-looking
statements. All of the forward-looking statements are subject to numerous
possible events, factors and conditions, many of which are beyond the control
of the Company and not all of which are known to the Company, including,
without limitation, market conditions and those described in the Company's
Annual Report on Form 10-K for the fiscal year ended December31, 2011 and
Quarterly Report on Form 10-Q for the quarter ended September 30, 2012, which
have been filed with the Securities and Exchange Commission. All
forward-looking statements speak only as of the date on which they are made.
New risks and uncertainties arise over time, and it is not possible to predict
those events or how they may affect us. Except as required by law, the Company
is not obligated to, and does not intend to, update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
CYS Investments, Inc.
Richard E. Cleary, 617-639-0440
Chief Operating Officer
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