Shamrock buys more shares of NUCO2

By Lisa Kerner

Charlotte, N.C., Sept. 18 - NUCO2, Inc. shareholders led by Shamrock Activist Value Fund bought 140,288 shares of the company's stock between Aug. 6 and Sept. 17 for a total of $3.6 million, or an average price per share of $25.64.

The reporting persons own 1,009,078 shares, or 6.84%, of the Stuart, Fla., bulk carbon dioxide supplier, according to a schedule 13D filing with the Securities and Exchange Commission.

On Aug. 6, Shamrock reported the purchase of 402,082 shares for $10.3 million, as well as a 5.66% stake in NUCO2.

It was previously reported that in July 11, Shamrock asked the company to consider a $7.00-per-share special dividend, plus an annual $0.25-per-share dividend, believing that NUCO2's capital structure was "sub-optimal." The investor had a 4.3% stake in the company at the time. NUCO2 replied that its focus was the implementation of a new strategic growth plan that included a $50 million share repurchase program.

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