Steel Partners sells more shares of Rowan

By Lisa Kerner

Charlotte, N.C., Jan. 26 - Rowan Cos., Inc. investors led by Steel Partners II, LP sold 3,658 shares of the company's stock on Jan. 21 for $14.00 each, it was reported in a schedule 13D/A filed with the Securities and Exchange Commission.

The investor sold 109,204 shares of the company's stock on Jan. 7 in a short sale for $16.8276 each, a prior SEC filing said.

Steel Partners managing director John J. Quicke was named to Rowan's board of directors on Thursday as the result of a settlement agreement.

It was previously reported that Steel Partners entered into a sale trading plan agreement with Mutual Securities, Inc. for the purpose of establishing a trading plan to effect sales of shares and call options of Rowan.

The investor beneficially owns 10,080,855 shares, or 8.9%, of the Houston-based company.

Rowan provides contract drilling services.

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