Shamrock buys more shares of NUCO2

By Lisa Kerner

Charlotte, N.C., Aug. 6 - NUCO2, Inc. shareholders led by Shamrock Activist Value Fund bought 402,082 shares of the company's stock between June 7 and Aug. 3 for a total of $10,336,913, or an average price per share of $25.78.

The reporting persons own 868,790 shares, or 5.66%, of the Stuart, Fla., bulk CO2 supplier, according to a schedule 13D filing with the Securities and Exchange Commission.

On 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 is "sub-optimal." The investor had a 4.3% stake in the company at the time.

NUCO2, in its reply to Shamrock, said its focus was the implementation of a new strategic growth plan that included a $50 million share repurchase program.

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