|By Business Wire||
|May 12, 2014 04:49 PM EDT||
MSCI Inc. (NYSE:MSCI), a leading provider of investment decision support tools worldwide, announced today that it received 0.6 million shares of its common stock on May 5, 2014 in connection with the settlement of the $100.0 million accelerated share repurchase agreement (“ASR”) it entered into on February 6, 2014. MSCI repurchased a total of 2.3 million shares as part of the February 2014 ASR. The settlement of the February 2014 ASR marked the completion of the $300.0 million share repurchase authorization approved by the Company’s Board of Directors in December 2012. As part of that authorization, MSCI repurchased a total of 7.7 million shares of its common stock.
On February 4, 2014, the Board of Directors authorized management to repurchase shares of the Company’s common stock with an aggregate value of up to $300.0 million. This authorization will be available for use from time to time at management’s discretion. No shares have been repurchased under this authorization to date.
MSCI Inc. is a leading provider of investment decision support tools to investors globally, including asset managers, banks, hedge funds and pension funds. MSCI products and services include indices, portfolio risk and performance analytics, and governance tools.
For equity investors, MSCI’s flagship performance and risk tools include: the MSCI indexes with approximately $8 trillion estimated to be benchmarked to them on a worldwide basis1; Barra factor models, portfolio risk and performance analytics; and ESG (environmental, social and governance) Research screening, analysis and ratings. MSCI is also a leading provider of multi-asset class risk management tools including RiskMetrics multi-asset class market and credit risk analytics; Barra multi-asset class factor models, portfolio risk and performance analytics. MSCI also provides IPD real estate information, indexes and analytics for investors in and managers of commercial real estate. MSCI also offers FEA valuation models and risk management software for the energy and commodities markets. MSCI is headquartered in New York, with research and commercial offices around the world. MSCI#IR
1As of September 30, 2013, as reported on January 31, 2014 by eVestment, Lipper and Bloomberg
For further information on MSCI, please visit our website at www.msci.com
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or to future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as "may," "could," "expect," "intend," "plan," "seek," "anticipate," "believe," "estimate," "predict," "potential," or "continue," or the negative of these terms or other comparable terminology. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond our control and that could materially affect actual results, levels of activity, performance, or achievements.
Other factors that could materially affect actual results, levels of activity, performance or achievements can be found in MSCI's Annual Report on Form 10-K for the fiscal year ended December 31, 2013 filed with the Securities and Exchange Commission ("SEC") on February 28, 2014, and in quarterly reports on Form 10-Q and current reports on Form 8-K filed with the SEC. If any of these risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, actual results may vary significantly from what MSCI projected. Any forward-looking statement in this release reflects MSCI's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to MSCI's operations, results of operations, growth strategy and liquidity. MSCI assumes no obligation to publicly update or revise these forward-looking statements for any reason, whether as a result of new information, future events, or otherwise, except as required by law.