Travelers Cos. Announces Deal for Odd-Lot Sale, Purchase Program
The Travelers Companies, Inc. (NYSE: TRV) today announced a voluntary “Odd-Lot” sale and purchase program under which shareholders owning fewer than 100 shares of Travelers common stock may either sell all of their shares or purchase sufficient additional shares to increase their holdings to 100 shares.
This voluntary program is being administered by Georgeson Inc. and provides an alternative to purchasing or selling less than 100 shares of Travelers common stock through a brokerage firm or other method.
The program expires November 15, 2013, unless extended by Travelers. Participants will pay or will receive a price per share equal to a weighted average price, as described in the program materials. Participants will pay a processing fee of $2.75 per share purchased or sold, up to a maximum of $50.00 per account.
Travelers will not buy or sell shares in the program, and Travelers is making no recommendation to shareholders as to whether they should sell or purchase shares.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.